The two AI-focused stocks we dive into today not named Nvidia (NVDA) or Super Micro Computer, Inc. (SMCI) have already experienced pullbacks and might be worth buying on the dip in June.
Haemonetics (NYSE: HAE) has been gaining from business growth within Plasma, Hospital and Hemostasis Management. Its new launches also aid growth. The stock carries a Zacks Rank #1 (Strong Buy) currently.
Diageo plc's (NYSE: DEO) focus on improving productivity coupled with its diversified footprint, a solid portfolio of brands, innovation and marketing investments, and pricing initiatives, appear encouraging.
The S&P 500 Index has been on an incredible rally this year, achieving new milestones and gaining 13.6% so far. The index has now crossed the 5,400 level for the first time after hitting the 5,300 threshold last month, underscoring strong confidence. The latest leg of the rally came on cooler-than-expected inflation data despite hawkish commentary from the Fed.
In a market dealing with external shocks, value investing, or the strategy of putting money in underappreciated stocks, is fast gaining popularity. Although these stocks are apparently cheap compared to their peers, investment is made with the hope that the stock price will appreciate reasonably to match the intrinsic value of the business.