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Fool.com contributor Parkev Tatevosian discusses why the AI market has a long runway and highlights one stock that could benefit from the trend.

Fool.com contributor Parkev Tatevosian evaluates Nvidia's (NASDAQ: NVDA) prospects over the next two years to answer where he thinks the stock price could be in 2025.

Tuesday, December 26, 2023The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including NVIDIA Corp. (NVDA), Oracle Corp. (ORCL)

The NASDAQ 100 After Hours Indicator is up 1.3 to 16,879.76. The total After hours volume is currently 63,609,876 shares traded.The following are the most active stocks for the after hours session: Coherus BioSciences, Inc. (CHRS) is +0.6 at $2.78, with 3,543,674 shares traded.

The U.S. stock market entered the final week of the year in jolly fashion on Tuesday, with all three major indices inching higher into the afternoon. The shortened trading week comes with the Dow sitting at all-time highs, while t

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It is not surprising that before an earnings season, every investor looks for stocks that can beat market expectations. This is because investors always try to position themselves ahead of time and look to tap stocks that are high

People in the U.S. have spent more than $6 billion on gaming consoles, over $47 billion fueling them with content and $2.5 billion on gaming accessories.

In the artificial intelligence (AI) investing realm, two heavyweights are Nvidia (NASDAQ: NVDA) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). These two are leading the charge in different areas and represent logical companies to invest in if trying to take advantage of the AI race

The Nuveen ESG Large-Cap Growth ETF (NULG) made its debut on 12/13/2016, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Growth category of the market.

Charlie Munger, Warren Buffett's longtime partner, passed away at age 99 last month. Perhaps Munger's biggest legacy? Spurring Buffett to switch from investing in very cheap stocks to investing in high-quality businesses at reasonable prices.

In just a matter of days, we'll wrap up what's been a banner year for Wall Street. The iconic Dow Jones Industrial Average recently reached a new all-time high. Meanwhile, the broad-based S&P 500 and growth stock-driven Nasdaq Composite are higher by 24% and 43% year to date,

Israel's government agreed to give Intel Corp a $3.2 billion grant for new $25 billion chip plant it plans to build in southern Israel, both sides said on Tuesday, in what is the largest investment ever by a company in Israel.

The Federal Reserve’s commentary about potential rate cuts in 2024 has improved investor sentiment about growth stocks. Despite macro pressures, several growth stocks fared well this year and proved their ability to navigate through challenging times. We used TipRanks’ Stock Comparison Tool to place Palantir ( NYSE:PLTR ), Salesforce ( NYSE:CRM ), and Nvidia ( NASDAQ:NVDA ) against each other to pick the most attractive growth stock, as per Wall Street analysts.       Palantir Technologies Stock (NASDAQ:PLTR) Palantir stock has rallied by an amazing 171% year-to-date, driven by the generative artificial intelligence (AI) frenzy and the company’s efforts to improve its profitability. In particular, Q3 2023 marked the fourth consecutive quarter of GAAP profitability for the company. Palantir’s commercial business is growing at a solid rate. The company expects this momentum to continue, supported by its recently launched Artificial Intelligence Platform (AIP) offering. During the Q3 conference call, the company attributed the 37% year-over-year growth in its commercial customer count to 181 customers to the growing adoption of its AIP product. However, several analysts remain concerned about Palantir's significant exposure to government business, which could slow down over the near term due to budget constraints. What is the Prediction for PLTR Stock? Recently, Palantir secured a one-year extension on a contract with the U.S. army worth $115 million. William Blair analyst Louie DiPalma did not have an upbeat reaction to this development. The analyst noted that the original contract in 2019 had a duration of four years, and the company has not been awarded a new four-year commitment this time, “with the Army’s ‘phase 3’ plans to split the Vantage platform into pieces and award a multivendor contract.” DiPalma, who has a Sell rating on the stock, added that PLTR stock might start to reflect this reality over the next three months once investors realize that the U.S. army awarded a short-term, one-year $115 million ceiling extension for the company’s second-largest contract. Overall, Wall Street is sidelined on Palantir stock, with a Hold consensus rating based on four Buys, four Holds, and five Sells. The average price target of $13.40 implies a possible downside of 23% from current levels. Salesforce Stock (NYSE:CRM) Shares of Salesforce, a dominant player in the customer relationship management software space, have jumped 101% this year. The company has been focusing on enhancing its profitability amid growing concerns about a slowing revenue growth rate. Corporations have optimized their spending due to macro pressures, which has weighed on Salesforce’s top-line growth. In Q3 2023, the company delivered better-than-expected earnings and in-line revenue. Salesforce’s revenue grew 11% to $7.84 billion in Q3, and the company guided for around a 10% increase in its fourth-quarter top line. Also, the company raised its full-year operating margin outlook, reflecting its continued efforts to drive productivity and profitability.    Is CRM Stock a Good Buy Now? Last week, Wells Fargo analyst Michael Turrin downgraded CRM stock to Hold from Buy, citing the year-to-date rise in the stock. He believes that much of the gains from the margin expansion story have been captured. He expects Salesforce stock to be range-bound in 2024, with his firm’s due diligence suggesting that the next growth catalysts for the company are further off than anticipated. In contrast, Morgan Stanley analyst Keith Weiss upgraded his rating for Salesforce stock to Buy from Hold and raised the price target to $350 from $290. He thinks that investors are not fully appreciating potential revenue drivers, including the recent price hikes, product bundling, and the shift to data cloud. Wall Street is cautiously optimistic about Salesforce, with a Moderate Buy consensus rating based on 26 Buys, 11 Holds, and one Sell. Following a solid year-to-date rally, the average price target of $278.09 implies 4.4% upside potential. Nvidia Stock (NASDAQ:NVDA) Semiconductor giant Nvidia has impressed investors with its stellar revenue and profit growth rates in recent quarters, fueled by the demand for its advanced graphics processing units (GPUs) used in building and training generative AI applications. NVDA stock has skyrocketed 234% so far in 2023.   In the third quarter of Fiscal 2024, the company’s revenue surged 206% while adjusted EPS increased almost six times year-over-year to $4.02. From large internet companies and global cloud service providers to AI start-ups, the customer base and demand for Nvidia’s GPUs are increasing. Moreover, the company is seeing robust demand for its chips in other end markets like gaming and automotive. Is Nvidia Stock a Buy, Sell, or Hold? On December 15, Bernstein analyst Stacy Rasgon reaffirmed a Buy rating on Nvidia shares with a price target of $700, as he continues to be bullish even though the stock has more than tripled this year. In fact, he called NVDA the cheapest of the “AI narrative” stocks. The analyst highlighted that Nvidia will release a follow-up to its highest-end H100 data center GPU by Q2 2024 and another faster GPU by the end of next year. The new products could launch at higher prices and drive robust revenue for the chip maker into 2025. With 31 Buys and three Holds, Nvidia earns a Strong Buy consensus rating. The average price target of $661.35 implies 35.4% upside potential. Conclusion Analysts are highly bullish on Nvidia stock and cautiously optimistic about Salesforce. They are sidelined on Palantir. Wall Street sees continued upside in Nvidia despite a phenomenal rise in its shares due to the generative AI wave.   Disclosure

Heading into 2024, the prospects for growth stocks look bright owing to the improving economic conditions and the possibility of rate cuts in the next year. Investors can consider these stocks, which have the potential to deliver above-average earnings growth. However, growth stocks come with higher risk and volatility compared to other stocks. Thus, to help investors choose top-growth stocks, TipRanks offers a  stock screener tool. Using this tool, we have shortlisted five stocks that have received Strong Buy ratings from analysts and whose price targets reflect an upside potential of more than 20%. These stocks also carry Outperform  Smart Scores (i.e., 8, 9, or 10) on TipRanks. Lastly, these companies’ revenues have witnessed a compound annual growth rate of over 10% in the past three years. Here are the five stocks that investors can consider. Nvidia ( NASDAQ:NVDA ) – The chip giant has a price forecast of $661.35, which implies a 35.4% upside potential.  NVDA’s revenues have witnessed a 17.4% three-year CAGR. The stock has a Smart Score of nine. Cenovus Energy ( NYSE:CVE ) – Cenovus is a Canadian integrated oil and natural gas company.  Its price forecast of $24.42 implies a 46% upside potential from the current levels. The company’s  revenue has grown at a CAGR of about 73%.  CVE stock carries a Smart Score of “Perfect 10.” Lamb Weston ( NYSE:LW ) – Lamb Weston is an American-based frozen potato product maker. The stock’s average price target implies an upside potential of 20.7%. Its  revenues increased at a CAGR of 13.5% in the past three years. Also,  LW has a Smart Score of eight. AstraZeneca ( NASDAQ:AZN)  – AZN is a multinational pharmaceutical and biotechnology company. Analysts currently see an upside potential of 22.2% in the stock. Also, it has a  Smart Score of eight, and its  topline has grown at a CAGR of 18.5%. Enterprise Products Partners ( NYSE:EPD ) – This company provides midstream energy services to producers and consumers of natural gas, natural gas liquids, and crude oil in North America. EPD stock’s average price target implies a consensus upside of 21.4%.  Its revenues increased at a CAGR of 28.9% and has a  Smart Score of “Perfect 10.” Disclosure

Artificial Intelligence (AI) has been a primary catalyst behind the rally in the financial market over the past year. Given its rapid adoption and deployment across various sectors, the trend could be sustained in 2024 as well. With this in mind, we have identified two AI stocks – Nvidia ( NASDAQ:NVDA ) and SoundHound AI ( NASDAQ:SOUN ) – with a Strong Buy consensus rating and upside potential of over 30%. Are Nvidia Shares a Good Buy? According to analysts, Nvidia stock is a Strong Buy based on 31 Buy recommendations and three Hold ratings. Nvidia has been the leader in the AI space, with its GPUs (graphics processing units) considered the engine powering the AI revolution.  Notably, AI presents a multi-year growth opportunity for Nvidia, driving its  revenue and cash flows. The strong, broad-based demand for Nvidia’s accelerated computing products and its focus on launching new products augur well for growth.  Thanks to the stellar demand for its products, Nvidia stock has gained about 234% year-to-date. Meanwhile, analysts’ average price target suggests further upside in NVDA stock over the next 12 months.  Analysts have an average price target of $661.35 on NVDA shares, representing 35.44% upside potential from current levels. What is the Outlook for SOUN Stock? SoundHound offers voice AI solutions. The company’s focus on expanding its Chat AI platform and channel partner ecosystem has led to solid growth in its revenue and solidified its competitive positioning in the voice AI space.  Besides for organic growth, SOUN focuses on strategic acquisitions to expand its product portfolio and accelerate growth. It recently announced the acquisition of SYNQ3 to broaden its AI customer service solutions. The deal positions SoundHound as the leading voice AI provider for restaurants in the United States, substantially expanding its market presence to more than 10,000 locations.  Four analysts cover SOUN stock, and all recommend a Buy. SOUN stock has gained about 17% year-to-date. Meanwhile, the  average analysts’ price target of $4.40 per share suggests 112.56% upside potential over the next 12 months.  Bottom Line  Nvidia and SoundHound are poised to benefit from the growing deployment of AI over the next year. Further, Wall Street analysts are bullish about NVDA and SOUN stocks in the AI sector. Also, these stocks offer significant upside potential over the next 12 months based on analysts’ average price target.  Disclosure

Fool.com contributor Parkev Tatevosian compares Tesla (NASDAQ: TSLA) with Nvidia (NASDAQ: NVDA) to determine which is the better artificial intelligence (AI) stock to buy today to prepare your investment portfolio for 2024.

Designed to provide broad exposure to the Style Box - Large Cap Blend category of the market, the Invesco S&P 500 Quality ETF (SPHQ) is a smart beta exchange traded fund launched on 12/06/2005.