Mon, Jul 1, 2024 3:46 PM
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A Flip by Riya Sharma
Companies leading in AI have driven the stock market up, with Nvidia's share price gains accounting for 32% of the S&P 500's increase. AI's growth story is still in its early days, with the market expected to reach $1 trillion by the end of the decade. Three solid buys in the AI space are Intel, trading at 28 times forward earnings estimates, Meta Platforms at 25 times, and Nvidia at 45 times.
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Three stock-split stocks - Nvidia, Chipotle Mexican Grill, and Sirius XM Holdings - could skyrocket up to 130% based on Wall Street analysts' price targets. Nvidia's stock could gain 62% due to its dominance in AI-inspired graphics processing units and software. Chipotle Mexican Grill's stock could rise 28% due to its strong ties to Gen Z and ability to engage with consumers via digital platforms.
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Brookfield Infrastructure offers a high-yield dividend stock with a 5% yield, significantly higher than the S&P 500's 1.3% average. The company's sustainable cash flow, generated from regulated frameworks and long-term contracts, ensures a stable income stream. With a target to pay out 60-70% of its cash flow in dividends, Brookfield aims to increase its dividend by 5-9% per year.
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