Yahoo Finance
Spending on artificial intelligence (AI) is not slowing down.
Companies that are addressing the growing demand for computing hardware and software are reporting strong revenue and earnings.
Three companies that recently delivered strong earnings results --Hewlett Packard Enterprise(NYSE: HPE),Micron Technology(NASDAQ: MU), andPalantir Technologies(NASDAQ: PLTR)-- all exceeded Wall Street expectations.
Let's take a look at what is driving their growth and whether the momentum makes them solid buys for a long-term investor.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia.Continue » Investment is pouring into AI-optimized data centers to support mission-critical workloads across training and inferencing.
These data centers need fast networking equipment to connect and transmit data between thousands of chips.
This is opening up a new growth avenue for HPE, one of the leaders in enterprise services and technology infrastructure.
Its latest quarter showed accelerating demand.
Revenue grew 40% year over year, up from 18% in the previous quarter.
Strong revenue drove a massive earnings beat, with adjusted earnings per share of $0.79 -- above analyst estimates of $0.53.
After orders more than doubled, management now expects to hit its 2028 earnings target two years early.
HPE's recent acquisition of Juniper Networks strengthens its competitive position.
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