It’s not just their policies that are generating interest these days. With politicians demonstrating a remarkable ability to outperform the market, investors are increasingly interested in the stock picks of senators and representatives. Consider Peach State Rep. Marjorie Taylor Greene, for example, who has been an avid buyer of stocks so far in 2024.
But it’s artificial intelligence (AI) stocks in particular that appear to be Greene’s focus in the first half of 2024. Advance Microphone Devices (NASDAQ: AMD)Greene also acquired shares in Apple (NASDAQ: AAPL), Crowd strike (NASDAQ: CRWD), Microsoft (NASDAQ: MSFT)And Qualcomm (NASDAQ: QCOM).
Greene has gained extensive experience in the AI sector
Greene began his 2024 stock purchases in April, buying shares of Qualcomm and Microsoft. While the exact value of the deals is unknown, Greene said in regulatory filings that each deal was valued between $1,001 and $15,000. The two purchases gave Greene notable, but diversified, exposure to the burgeoning AI sector.
Leading semiconductor maker Qualcomm is targeting generative AI applications for mobile devices with its Snapdragon 8 Gen 3 mobile platform. In addition, it is bringing AI capabilities to personal computers with its Snapdragon X Elite platform and to automobiles with Snapdragon Digital Chassis. Focused on software, Microsoft’s commitment to delivering sophisticated AI solutions is demonstrated by Copilot, an AI tool available across the Microsoft suite of products, from Word and Excel to Designer, where users can create unique images with DALL-E 3.
The following month, Greene expanded his exposure to AI with positions in Apple and Advanced Micro Devices in two deals valued at between $1,001 and $15,000 each. In a concerted effort to deliver more AI capabilities, Apple has been working on its own extended language model (LLM), dubbed Ajax. In early June, Apple also unveiled Apple Intelligence. Available across its devices, Apple says Apple Intelligence “combines the power of generative models with personal context to deliver incredibly useful and relevant insights.”
Like Qualcomm, AMD also makes the hardware that powers AI. In addition to its MI300 accelerators (specialized microprocessors) designed for generative AI and large language models, AMD makes Ryzen PRO 8000 processors, which the company calls “the first processors with integrated AI accelerators dedicated to commercial desktops.” [personal computers]” . “
The story continues
In late June, Greene clicked the “buy” button on cybersecurity specialist CrowdStrike. Using artificial intelligence, CrowdStrike helps its customers protect a wide variety of devices, including laptops, mobile devices and those connected to the Internet of Things. In addition, CrowdStrike has developed an AI-powered generative security tool, Charlotte AI, that integrates with various aspects of the company’s Falcon platform.
You may be green with envy over Greene’s picks, but that doesn’t mean you should buy these AI stocks too.
While following politicians’ stock picks is a smart strategy, blindly copying their purchases is reckless at best. It’s important for individual investors to do their due diligence and evaluate whether the stocks in question are smart choices for them. That said, Qualcomm, Microsoft, Apple, and AMD are all industry leaders trading at premiums to their historical valuations.
Value investors might therefore prefer to keep these names on their watchlist rather than rushing to add them to their portfolio. Of course, valuation is not the only factor investors should consider, and long-term investors might therefore not want to study these names in more detail before deciding to keep a close eye on them.
However, CrowdStrike is in a different situation since it caused a global outage last week. With the drop that followed the news of the global outage, CrowdStrike’s stock is much cheaper today, causing it to lose most of its 2024 gains. As inauspicious as the news is for CrowdStrike, it’s crucial for investors to remember that this event, in and of itself, does not spell the end of the company.
The computer code is complicated, and the flaw in the company’s update is unfortunate, but it doesn’t indicate that there’s anything fundamentally wrong with the company. For those determined to withstand some short-term volatility, CrowdStrike could be a great addition for investors looking for a top cybersecurity stock.
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, CrowdStrike, Microsoft, and Qualcomm. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Marjorie Taylor Greene loves AI stocks. Here are 5 stocks she’s buying in the first half of 2024. was originally published by The Motley Fool
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