Energy Stocks to Buy: Utility, Artificial Intelligence, and Data Center Stocks Poised for Growth, According to BofA

The article discusses Bank of America’s (BofA) recommendations for energy stocks to buy in 2024. BofA analysts highlight three sectors: utility, artificial intelligence (AI), and data center stocks. Utility stocks are expected to benefit from the transition to renewable energy sources and the need for grid modernization. AI stocks are poised for growth due to the increasing adoption of AI technologies across various industries. Data center stocks are likely to perform well as the demand for cloud computing and data storage continues to rise. The article provides specific stock recommendations within each sector, such as NextEra Energy and Dominion Energy for utilities, Nvidia and AMD for AI, and Equinix and Digital Realty Trust for data centers. BofA’s analysts emphasize the long-term growth potential of these sectors and the importance of investing in companies that are well-positioned to capitalize on emerging trends.

Source: https://markets.businessinsider.com/news/stocks/energy-stocks-to-buy-utility-artificial-intelligence-data-center-bofa-2024-9