In this sneak peek from Action Alerts PLUS, AAP team member Stephen 'Sarge' Guilfoyle broke down his top artificial intelligence stock picks and suggested taking a profit in Nvidia (NVDA) ahead of earnings from the semiconductor company and AI darling on May 24.
FULL VIDEO TRANSCRIPT BELOW:
STEPHEN GUILFOYLE: Well, there's no doubt it's the-- what year was it we all went crazy about blockchain? Well, this is the blockchain of 2023.
J.D. DURKIN: [LAUGHS]
STEPHEN GUILFOYLE: A lot of these firms, they have been working on artificial intelligence, improving their productivity, improving their efficiency through AI for quite some time. Obviously, the darling of the whole story right now is NVIDIA, which, thankfully, is the name of mine. I'm on that stock. NVIDIA reports next week.
I do think I've taken a little bit of a profit along the way. I think I take a little bit more of a profit going into that post-earnings conference call, because I don't think-- no matter how many times Jensen Huang says the word AI, the initials AI, I just don't know how much higher this stock can go.
AMD is in the same boat. I love AMD. I love Lisa Su. They're maybe not the leader. But if someone looks past the video, they're probably the second leader in terms of GPUs and CPUs that can handle this kind of learning, this kind of language.
Microsoft's been a great name. I rode Meta and Google a little bit of this ride. I'm off both of those trains right now. I'll probably buy Meta, if I can get enough of a discount.
I don't know if Apple's where they want to be in terms of AI just yet. I'm still long that name. But in terms of the theme, yeah, you're going to get a lot of jokers now that say they're in AI, they've been working on it for years. You're not going to be able to tell among the lesser-known names which ones really have been working on it, which ones haven't been.
But you know what? They're all tradeable when they're moving. So as an investor, yeah, you want to stick, maybe, to the names I just mentioned. But as a trader, you got to see what's moving at 6 o'clock in the morning in Europe and maybe jump on that, jump on one of those bandwagons early in the day, just to try to make a few bucks.
