Support Stocks for the AI Boom

From the Wall Street Journal 

Nvidia (NVDA: Nasdaq)

What was once a gaming chip company has morphed into the top producer of chips powering the AI boom. A $2 trillion plus company, it is GROUND ZERO for the current AI boom. Earnings this week showed $26 billion in quarterly sales, up 3 x from a year ago. They announced a 10 for 1 stock split. The stock reached $1000 a share this week. It closed on Friday, 5/24/24 at $1064.79, up $26.70, a 2.57% gain for the day. The stock has more than doubled this year. 

Vertiv Holdings (VRT: NYSE)

New orders up 60% year over year. The company powers and cools data centers. It closed on Friday, 5/24/24 at $106.67, up $4.93, a 4.87% gain for the day. The stock has more than doubled this year. 

Eaton (EAT: NYSE)

It closed on Friday, 5/24/24 at $340.89, up $2.47, a 0.73% gain for the day. The stock is up 47% this year. It is a power management company, doing all things to keep Data Centers up and running, and safe! 

Johnson Controls (JCI: NYSE)

It closed on Friday, 5/24/24 at $73.90, up $0.64, a 0.87% gain for the day. It is up 28% this year. It designs, sells, and installs everything a Data Center needs – heating, a/c, refrigeration, electronic security, fore detection and suppression systems. 

Quanta Services (PWR: NYSE)

It closed on Friday, 5/24/24 at $283.43, up $6.88, a 2.49% gain for the day. It is up 31% this year.

The S&P has advanced 11% this year.