Tesla
What Happened: Gerber took to X, formerly Twitter, on Thursday to express his views on the tech sector's earnings reports. He believes that the consistent trend of these reports points towards a significant increase in AI infrastructure spending. He also emphasized the potential benefits for companies involved in AI infrastructure.
Gerber's post comes at a time when the tech sector is experiencing a surge in AI-related activities.
This surge is being driven by companies like Microsoft Corp
"Every earnings report from the tech sector points to lots of infrastructure spending on AI... Bodes very well for the bricks and mortar companies behind AI."
Here's how the stocks Gerber recommended have performed in 2024 so far, according to Benzinga Pro:
CompanyLast trading price (as of last closing)Returns (year-to-date)
- Nvidia Corp.
(NVDA ) $826.32; 71.55% - Super Micro Computer Inc.
(SMCI ) $787.40; 175.85% - Dell Technologies Inc.
(DELL ) $124.91; 67.01% - ASML Holding NV
(ASML ) $902.51; 25.89% - Meta Platforms Inc.
(META ) $441.38; 27.46% - Tesla Inc.$170.18; -31.50%
"Mad Money" host Jim Cramer also termed Microsoft and Google's recent quarters "spectacular."
Deepwater Asset Management's Gene Munster applauded Google's $100 billion revenue projection, saying it's a sign that the company is "entering a new growth phase."