Apple, Nvidia, Microsoft stocks will continue to benefit from AI: strategists

Shelby McFadyen, investment analyst at Motley Fool Asset Management, spoke to Quartz for the latest edition of their Smart Investing video series.

Watch the interview above and read the transcript below: The transcript of this conversation has been lightly edited for length and clarity.

Andy Mills (AM): Big tech companies like Apple, Nvidia, and Microsoft have seen massive growth over the past few years thanks to AI. Do you think the craze for AI will continue in the second half of the year?

Shelby McFadyen (SM): I think the current levels can and likely will sustain unless there's a big external impact. So whether it's a macro situation that hits Nvidia hard or something that really devastates Apple's sales, that sort of thing. I wouldn't be surprised if it stays the way it is unless something really changes the outlook. I don't know if we're going to see anything ramp up significantly in another six months unless there's real innovation. Because from my perspective, the truth is we're in a holding period where we're still waiting for some companies to show us what they're going to do with these new features. So unless they haven't announced anything yet and have been working on it for a while, I'm not sure that just the second half of the year is going to guarantee any big announcements that would justify these valuation increases even more. So I think we're pretty much set in where we are this year, but who knows. They might surprise.

AM: Yeah, that's a good point. I feel like everyone is like, “AI is cool, we're doing it, and you're going to see it.”

SM: Now everyone is used to the water temperature. The question is, will it stay lukewarm or will someone make some waves?

AM: Yeah, definitely. Like Apple's recent AI announcement, integrating AI seemed like the right and logical move for them to make. But it wasn't a surprise.

SM: Yes. There is also a difference between a new product and a new feature. If you think about Apple's features, they've been at a high level for a long time. So this seems like something they should be able to do, so it doesn't surprise anyone. So it's not shocking. There are parts of the process that are unique and, as such, cannot be easily copied. But there are parts that other companies can copy. The integration of user profiles across different platforms is not something new at all. What we've seen with Data Clean Room is a great example of that integration, and why companies have been pursuing it for a long time. Trying to create something like an anonymous identifier for consumers has been pursued for a long time.

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