How to invest in the ChatGPT-driven AI boom: Credit Suisse shares 6 stocks they're labeling as 'top picks' as their exposure to AI development opens them up to new revenue streams
The analysts said that growing AI use cases will help Taiwan Semiconductor Manufacturing Company and their high performance computing business, which has already doubled since 2016. Analyst Randy Abrams has a
As for Accton, an IT hardware producer, surging demand will benefit the firm's sales of its adapters and switches, which contain a new cooling liquid. Credit Suisse's 12-month price target for the stock is $330, which is upside of 16%. Wiwynn, another IT hardware producer, is another top pick for the bank, as they include Meta, Amazon, and Microsoft as their clients.
"Notably, on the back of Meta's infrastructure strategy shift to AI native architecture plus Microsoft's ongoing leadership on generative AI services , we expect it should directly support better topline expansion to Wiwynn," analyst Harvie Chou said. On Baidu, the company is set to release it's AI chatbot"Ernie Bot" on March 16, and has the potential to have hands various parts of the AI industry, the bank said.
"Within the China internet operators, we believe Baidu is best positioned to capture the advancement of generative AI technology given its full stack AI capabilities, robust China-based data sets and user inquiries together could form a flywheel effect and make a far-reaching impact on its search ad and AI cloud business," said Kenneth Fong, the bank's China Internet Analyst.
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