Looking for AI Stocks? Use This Thematic Investing Tool

Zacks Thematic Screens lets you dive into 30 dynamic investment themes shaping the future. Whether you're interested in cutting-edge technology, renewable energy, or healthcare innovations, our themes help you invest in ideas that matter to you.

Let’s take a closer look at the Artificial Intelligence theme and analyze a top-ranked stock that the screen returned, such as Broadcom AVGO.   

This screen features diverse companies involved in AI, ranging from creators of software and hardware that power AI to those applying and utilizing this technology through automation, diagnostics, cognitive tasks, and more.

Artificial Intelligence

Artificial Intelligence (AI) refers to the technology that enables computers and machines to simulate human intelligence and problem-solving capabilities to perform the cognitive functions usually associated with human minds.

In general, AI systems work by ingesting large amounts of data with fast, iterative processing and intelligent algorithms. It then analyzes the data using neural networks for correlations and patterns and allows the software to learn automatically from these patterns to make predictions.

Broadcom Reports Strong AI Revenue

Broadcom is evolving a broad portfolio of technologies to extend its leadership in enabling next-generation AI infrastructure. This includes foundational technologies and advanced packaging capabilities aimed at building the highest performance, lowest power custom AI accelerators.

AVGO stock currently sports a favorable Zacks Rank #2 (Buy), with its earnings outlook shifting bullishly for its current fiscal year.  

Its recent set of quarterly results brought several positives, with AI revenue of $4.1 billion melting 77% higher year-over-year. The quarter’s results were driven by robust demand for its AI solutions, with the company forecasting AI semiconductor revenue of $4.4 billion for Q2.

Keep in mind that the stock is set to report quarterly results this week, with current consensus expectations indicating 42% year-over-year EPS growth on 20% higher sales. The company’s sales have remained strong over recent periods thanks to the above-mentioned AI frenzy, as shown below.

Bottom Line: Find the Best AI Stock

Zacks Thematic Screens lets you dive into 30 dynamic investment themes shaping the future. Whether you're interested in cutting-edge technology, renewable energy, or healthcare innovations, our themes help you invest in ideas that matter to you.

Upon running the Zacks Artificial Intelligence Thematic screen, top-ranked Broadcom AVGO was returned.

For those interested in viewing all the Thematic lists, please click here >>> Thematic Screens – Zacks Investment Research.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research