Block Harbor Forecasts Three AI Stocks to Outperform Nvidia in the Next 12 Months

Block Harbor, a leading cryptocurrency exchange, has identified three companies in the AI sector that are poised to surpass Nvidia in terms of market performance over the next year. These companies include Advanced Micro Devices, Intel, and UiPath, each of which is making significant strides in their respective areas of the AI industry.

Las Vegas, United States, 25th Apr 2024 – Block Harbor, a leading cryptocurrency exchange, has identified three companies in the AI sector that are poised to surpass Nvidia in terms of market performance over the next year. These companies include Advanced Micro Devices, Intel, and UiPath, each of which is making significant strides in their respective areas of the AI industry.

1. Advanced Micro Devices (AMD)

Advanced Micro Devices (AMD) is one of Nvidia’s largest competitors in the AI chip market. Although AMD has historically trailed behind Nvidia, its stock has surged over the past 12 months, and Wall Street believes this trend might continue. Analysts have set a 12-month price target for AMD that reflects a potential increase of nearly 16%, compared to less than 11% for Nvidia. This optimistic outlook is based on AMD’s new AI chips, which are expected to capture market share from Nvidia.

2. Intel

Intel (INTC), once the undisputed king of the global chip market, has faced challenges due to technological shifts and strategic missteps. However, analysts expect Intel’s prospects to improve, with a 12-month average target price indicating an 18% increase from the current stock price. One particularly optimistic analyst expects Intel’s stock to soar by nearly 80%. This renewed interest in Intel is largely due to its recent launch of the Gaudi 3 AI accelerator, which boasts inference capabilities and energy efficiency significantly better than Nvidia’s flagship H100 GPU at a fraction of the cost.

3.UiPath

UiPath (PATH) is not a direct competitor to Nvidia but leads the market in Robotic Process Automation (RPA). UiPath uses AI to automate various online tasks and boasts a roster of top-tier technology consultants like Accenture, Deloitte, and IBM as strategic partners. Despite a significant price drop after a recent surge, Wall Street anticipates a substantial rebound, with a 12-month average target price reflecting a 45% potential increase. Even the most pessimistic analyst surveyed by LSEG expects a 24% rise in UiPath’s stock within the next year.

UiPath’s rapid sales growth, with a 31% year-over-year increase in the fourth quarter of 2023, and its achievement of profitability for the first time since its 2021 IPO, are key factors driving analysts’ positive outlook.

Media Contact

Organization: BlockHarbor

Contact Person: BlockHarbor

Website: https://www.blockharbors.com

Email: Send Email

Contact Number: +12817772343

Address: 304 S. Jones Blvd

City: Las Vegas

Country: United States

Release Id: 25042411395

The post Block Harbor Forecasts Three AI Stocks to Outperform Nvidia in the Next 12 Months appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.