Our search for the top-rated stocks from Citywire Elite Companies is filled with exciting plays in artificial intelligence (AI). These stocks have also been featured in our previous hunt for the top risers in May, highlighting the enduring investor enthusiasm for AI. Additionally, we have discovered new winners in the AI sector and a few stocks riding on other trends.

Momentum investors look for winning stocks that continue to outperform. This often means identifying strong trends, and this year, the focus has been on AI. Many of the stocks we highlighted in our previous data dive in May have delivered remarkable returns. However, investing in hot stocks comes with a risk, as markets can become overheated and valuations can become inflated. For instance, Nvidia is valued at an incredible 45 times historic sales. Despite this, the rapid development of AI presents excellent prospects for businesses involved in this technology.

Among the new AI winners on our list is the AAA-rated Vertiv. This IT infrastructure company impressed investors with its strong quarterly results, attributing its success to the expected rise in demand for its products fueled by AI investments. Bel Fuse, an AA-rated global manufacturer, has also experienced significant growth due to investments in AI.

Modine Manufacturing, another AAA-rated company, anticipates benefits from the increasing investment in AI and the expansion of data centers, to which it supplies cooling systems. The company’s heat pumps are also expected to profit from incentives for green energy, such as the US’ Inflation Reduction Act.

Tesla, an AAA-rated company, has recently emphasized its AI software, called Dojo. While it has cut prices on its cars to boost sales, Tesla believes that increasing its fleet on the road is more important in the long run. As its AI technology improves, Tesla aims to achieve fully self-driving cars.

Symbotic, an AA-rated company specializing in warehouse robotics technology, utilizes AI to enhance its offerings to clients. BILL Holdings, rated AA, harnesses the power of AI to automate back-office functions for small and medium-sized businesses. Kaynes Technology manufactures internet-of-things solutions-enabled integrated electronics, focusing on real-time data monitoring, seen as crucial for productivity benefits in the future.

Furthermore, several semiconductor Companies have been highlighted in our data dive as the demand for semiconductors is expected to soar with the growth of AI. Marvell Technology and Alchip are among the companies involved in semiconductor design. Photronics provides photomasks to chipmakers, while Entergris specializes in purifying and protecting delicate materials used in semiconductors. M31 Technology focuses on silicon intellectual property development, and Aeher Test Systems offers chip-testing services.

In addition to AI, our data dive has uncovered opportunities in other sectors. Surprisingly, despite the abundance of AI opportunities, some companies from other areas have also made it to our lists of recent stock market winners. Notably, there are companies benefiting from the thriving US housing market. Beazer Homes and Green Brick Partners, both AAA-rated builders, have capitalized on the strong demand for housing. Additionally, Builders FirstSource, an AAA-rated building materials group, has seen momentum due to factors such as home starts and lumber prices.

Our data dive selects the most popular large- and small-cap stocks from elite investors and identifies the top 20 stocks in each category with the biggest three-month share price increase. This is one of the five screens we regularly conduct on Citywire Elite Companies, providing investment ideas for our readers.

Overall, the AI sector continues to present promising investment opportunities, with various companies benefiting from advancements in AI technology. In addition, other sectors, such as housing, offer potential for growth and profitability. Investors can explore these sectors for attractive investment prospects.

The post New Opportunities in AI and Other Trends appeared first on TS2 SPACE.