Analyst’s Insight on AI and Crypto Rallies Analyst’s Insight on AI and Crypto Rallies

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By Ronald Tech

Semiconductor names and crypto-related stocks have been two of the hottest sectors throughout the last few months. But, Chaikin Analytics founder Marc Chaikin says that just because they’ve done well, doesn’t mean they’re both buying opportunities.

“One you’re buying a puff of smoke, the other you’re buying some serious stuff,” Chaikin told Benzinga’s PreMarket Prep Thursday. Chaikin said he is not a fan of the crypto names, and would prefer to stick to AI plays like chip stocks NVIDIA Corp NVDA and Super Micro Computer Inc SMCI

Chaikin did, however, say that for traders who have been in Super Micro Computer, it might be time to start thinking about taking some profits. Chaikin told Dennis Dick, one of the hosts of PreMarket Prep, that he should consider selling around $1,000 a share. “There’s no wrong answer,” Chaikin said. “A win’s a win.”

Coinbase Global Inc COIN, which reported earnings on Thursday, is up more than 20% in the last month as Bitcoin and other cryptos hit 52-week highs. But Chaikin prefers the AI trade, which he says will benefit several different tech industries, including IT companies and cybersecurity plays in addition to semiconductor names. 

Chaikin mentioned Gartner Inc IT, Fortinent Inc FTNT among others on Thursday’s episode of PreMarket Prep. 

“AI is real, the boom is here, NVIDIA has the best chips… there’s no place to put a stop on something like this,” Chaikin said. NVIDIA is set to report earnings next Wednesday after the close. 

Now Read: Josh Brown Says Market May Have ‘Topped’ For The Year As Nvidia Stock Has Become An Algorithm Casino ‘Freak Show’

Watch the full interview below. 

Photo: MarcChaikin/ChaikinAnalytics 3844328/Pixabay

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