New York, NY – The surge in artificial intelligence technology has propelled the S&P 500 to achieve record highs multiple times in 2024, with the tech and communication sectors leading the way. Companies within the S&P 500 have reported positive earnings surprises exceeding their 10-year averages in the first quarter of the year. Analysts are projecting an 11% increase in earnings for the calendar year 2024.

The influence of artificial intelligence has significantly contributed to the success of the Quant Team’s Top 10 Stocks for 2024, which have seen an average gain of 55% year-to-date. As a result, a new list of top 10 stocks has been compiled for the second half of the year, encompassing stocks with high momentum, strong potential for earnings growth, and sound investment fundamentals across various sectors and industries.

The technology sector, represented by XLK, has emerged as the top performer in the first half of 2024, closely followed by the Communication sector (XLC) stocks. Additionally, the unprecedented surge in precious and industrial metals, particularly gold and copper, has garnered significant attention this year. Notably, the Quant Team’s portfolio of Top 10 Stocks for 2024 has outperformed the S&P 500 by 55%, underscoring the remarkable success of these investment picks.

One standout stock from the list is SilverCrest Metals Inc. (SILV), a Canadian-based silver and gold miner operating in Mexico. SILV has excelled in the Precious Metals industry and the Materials sector, benefiting from the surge in silver prices. The company’s robust financial performance is reflected in its profitability metrics, showcasing a strong return on investment and effective capital deployment.

Moving on to Super Micro Computer (SMCI), a provider of high-performance server and storage solutions, the company has experienced remarkable growth, driven by the demand for AI technology. SMCI’s exceptional financial results, coupled with its leading position in the Technology Hardware and Storage sector, have propelled the stock to new heights, with a promising outlook for future earnings growth.

GigaCloud Technology, Inc. (GCT), a top-rated Consumer Discretionary stock, has seen impressive growth and momentum, despite facing challenges from recent short report allegations. The company’s strong position in the B2B e-commerce market, coupled with its solid financial performance, has earned it a ‘Strong Buy’ rating from the Quant Team.

In conclusion, the stock market in 2024 presents a plethora of opportunities for investors, with top-rated stocks showcasing strong momentum, substantial earnings growth potential, and solid investment fundamentals. The diverse range of sectors and industries represented in the list of top stocks for the second half of the year reflects the dynamic nature of the market and the potential for continued growth and success for investors.