"3 Promising AI Stocks, Led by Nvidia, Nearing Buy Opportunities"

Nvidia, a leading player in the AI industry, is set to take center stage this week as it rebounds near a buy point, along with other AI stocks such as Datadog and Dell Technologies. These companies are offering early entry opportunities as they rebound near key moving averages.

The market had a strong rebound last week, with the S&P 500 and Nasdaq composite both rising significantly. However, both indexes are still down nearly 3% for the month. Despite this, investors are advised to wait for convincing evidence of market strength before adding exposure.

Nvidia stock, a member of the Magnificent Seven, surged 6.2% on Friday, putting it just above a trendline and offering a potential early entry. The stock has an official buy point of 974. Nvidia rallied 15.1% this week after Alphabet, Microsoft, and Meta Platforms touted heavy AI investments during their respective earnings reports. Chipmaker Nvidia ranks on the IBD Leaderboard list and leads the Elec-Semiconductor Fabless group.

Datadog stock, a member of the IBD 50 list, surged nearly 5% on Friday on a bounce off its 50-day line. The stock is working up the right side of a flat base with a 138.61 buy point. However, investors should be aware that the company reports Q1 results on May 7.

Dell Technologies stock, on the other hand, rocketed almost 32% after the computer hardware giant cleared Q4 estimates with a 22% earnings increase. The stock has vaulted 63.5% year to date.

In conclusion, these AI stocks offer exciting opportunities for investors, but it is crucial to wait for the right entry points and consider the potential impact of upcoming earnings reports.

Source: <https://www.investors.com/news/nvidia-stock-ai-plays-buy-points/>