about 1 month ago • 2 mins
Last year was the year of AI enablers – the creators and innovators of the technology. This group – including tech giants like NVIDIA, TSMC and Baidu – saw their collective market cap rise by more than $6 trillion in 2023 and saw their share price rise by an average of +111%.
But, according to Morgan Stanley, this year is likely to belong to the AI adopters – the smart users of AI tech. They’re ready to reap the benefits of heightened productivity and new revenue streams as they integrate the tech into their businesses. And with a third of CIOs expecting their first AI and large language model (LLM) projects to be in production in the second half of the year, there’s likely to be quite a few of them.
Several have already caught Morgan Stanley’s eye – and they’re not the kind of AI plays that usually spring to mind. Here are its top picks.
And these stocks may be worth keeping an eye on. After a lackluster 2023 – they gained just 6% as a group – they could be ready for a shiny breakout year, with Morgan Stanley forecasting a solid 27% return.
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