Investment analysts are recommending tech stocks as a way to navigate the current economic uncertainty. Uber, Datadog, and Nvidia are highlighted as companies with strong growth potential. The analysts base their recommendations on factors such as strong financials, long-term growth opportunities, and the impact of generative AI.
An Uber rideshare sign is posted nearby as taxis wait to pick up passengers at Los Angeles International Airport on February 8, 2023 in Los Angeles, California.The new year has only just started, but macro uncertainty is already hanging over investors, with Federal Reserve officials raising concerns over inflation and its impact on the rate-cutting path.
Additionally, Lee thinks that worries over the growth of the company's Mobility business seem overstated. The analyst expects FY25 gross bookings growth in the high-teens, with the pace of deceleration moderating compared to the second half of 2024. That said, White thinks that Datadog, and the broader industry, will start to see incremental activity over the next 12 to 18 months from the long-term boom in generative AI. Highlighting DDOG's outperformance compared to peers and its transparency with regard to its generative AI progress, the analyst noted that AI-native customers accounted for more than 6% of the company's annual recurring revenue in Q3 2024, up from over 4% in Q2 2024 and 2.5% in Q3 2023.
Moreover, the company expects spending in the data center space to remain strong in calendar year 2025, supported by the Blackwell ramp-up and broad-based strength in demand. Further, Sur noted that management sees massive revenue growth opportunities, as it grabs a larger chunk of the $1 trillion-worth datacenter infrastructure installed base.
Technology INVESTMENT TECH STOCKS GROWTH OPPORTUNITIES GENERATIVE AI MACRO ECONOMIC
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