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Top Stock Picks for the Week of February 26, 2024

Summit Materials (SUM)

Summit Materials, Inc. is a construction material company. The company supplies aggregates, cement, ready-mix concrete and asphalt primarily in the United States and western Canada. Summit Materials, Inc. is headquartered in Denver, Colorado.

Summit Materials lands a Zacks Rank #1 (Strong Buy) and its Building Products - Concrete and Aggregates industry is in the top 24% of over 250 Zacks industries. SUM shares have climbed 42% in the last year, including a big post-earnings release surge earlier this month. Wall Street cheered SUM’s bullish outlook.

NVIDIA (NVDA)

NVIDIA Corporation is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence (AI) based solutions. The stock has skyrocketed and it reported another impressive quarter last week that helped it grab a Zacks Rank #1 (Strong Buy).

NVIDIA's Compute & Networking revenues are gaining from the strong growth of artificial intelligence (AI), high-performance computing and accelerated computing. The data center end-market business is likely to benefit from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures.

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