'One You're Buying A Puff Of Smoke': AI And Crypto Rallies Aren't Both Buying Opportunities, Says Analyst
Portfolio Pulse from Aaron Bry
Marc Chaikin, founder of Chaikin Analytics, differentiates between the investment potential of AI and crypto sectors. He favors AI, particularly semiconductor stocks like NVIDIA Corp (NVDA) and Super Micro Computer Inc (SMCI), over crypto stocks. Chaikin suggests taking profits in SMCI around $1,000 a share. Despite the recent surge in Coinbase Global Inc (COIN) due to crypto highs, Chaikin prefers AI, which benefits various tech industries. He also mentions Gartner Inc (IT) and Fortinet Inc (FTNT) as part of the AI boom.
February 15, 2024 | 10:31 pm
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NEGATIVE IMPACT
Coinbase Global Inc's recent surge is noted, but Chaikin prefers AI investments, suggesting a cautious outlook for COIN.
Chaikin's preference for AI over crypto, despite COIN's recent gains, suggests a potentially negative short-term impact on COIN's stock as investor focus may shift.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Super Micro Computer Inc is recommended by Chaikin, but he suggests taking profits, indicating a mixed outlook.
While SMCI is favored by Chaikin, his advice to take profits suggests uncertainty about its continued upward trajectory, leading to a neutral short-term impact.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Fortinet Inc is included in Chaikin's AI sector picks, suggesting a positive outlook.
Fortinet's inclusion in the AI boom discussion by Chaikin suggests a positive short-term impact, especially as cybersecurity is a key area of growth within AI.
CONFIDENCE 65
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Gartner Inc is mentioned as part of the AI boom, indicating a positive outlook.
Being part of the AI sector that Chaikin is bullish on, Gartner Inc is likely to benefit from the increased focus and investment in AI technologies.
CONFIDENCE 65
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
NVIDIA Corp is highlighted as a preferred AI play with the best chips, indicating a positive outlook.
NVIDIA's emphasis as a leading AI chip manufacturer by Chaikin, coupled with its upcoming earnings report, suggests a positive short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90