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Turn $100 into $1,000 with 2 stocks by Q4 2024 😎

Turn $100 into $1,000 with 2 stocks by Q4 2024 😎

Investing in Profitable Stocks for Q4 2024

As the third quarter of 2024 progresses, you may be eager to discover investment opportunities that could bring substantial profits in the upcoming months. The stock market presents various possibilities for growth, with some stocks showing promising performance that may result in profits by the end of this year.

Nvidia (NASDAQ: NVDA)

Nvidia (NASDAQ: NVDA) has established itself as a key player in the artificial intelligence (AI) realm, primarily due to its graphics processing units (GPUs) that underpin many applications.

  • Analysts anticipate robust results for Nvidia in Q2 2024, with projected earnings and revenue surpassing expectations.
  • Despite recent market downturns affecting its stock price, analysts continue to recommend a ‘buy’ rating for Nvidia, with some setting a $150 price target post-earnings.
  • The company’s dominance in AI and the semiconductor market positions it well for sustained growth if it can deliver on its earnings and maintain momentum.
  • Currently, Nvidia’s stock is valued at $129, boasting year-to-date gains of approximately 170%.

Palantir (NYSE: PLTR)

In the shadow of Nvidia, Palantir (NYSE: PLTR) is quietly solidifying its position as a crucial AI player by commercializing its data analytics platforms.

  • Palantir’s U.S. commercial revenue surged by 70% last year, fueled by the demand for AI solutions.
  • Despite the inherent risks associated with government contract dependency, analysts view Palantir as a promising AI stock, with potential price targets reaching $35 per share within a year.
  • While Palantir faces challenges, its pivot towards serving commercial clients could offset risks and propel growth in the upcoming quarters.
  • As of August 23, PLTR was trading at $31.78, showcasing a 91% year-to-date increase.

Conclusion

Both Nvidia and Palantir present appealing prospects for investors seeking to multiply their investments in Q4 2024. Nvidia’s strong foothold in AI positions it well for significant gains if it meets market expectations, while Palantir, though riskier, offers substantial upside potential through its expanding AI solutions.

However, it’s crucial to note that multiplying investments by ten is not a guarantee, especially with highly capitalized stocks like Nvidia and Palantir, which may exhibit less volatile movements compared to small-cap stocks.

Hot Take: Closing Thoughts

As you contemplate your investment strategies for the remainder of 2024, consider the opportunities presented by Nvidia and Palantir in the AI space. Evaluate the potential risks and rewards associated with these stocks before making any investment decisions to ensure a balanced and informed approach to your investment portfolio.

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Turn $100 into $1,000 with 2 stocks by Q4 2024 😎