Nvidia, Micron, and Amazon Shine as Top AI Stocks in September

Nvidia is still one of the top AI stocks to buy, according to recent earnings reports. The company's second-quarter fiscal 2027 revenue grew at a 106% year-over-year pace, blowing away all expectations.

Nvidia's management team calmed fears about future demand for its GPUs by stating that they expect 70% revenue growth for fiscal 2028, which is well above what Wall Street analysts projected.

Another company cashing in on the AI build-out is Micron. The memory chip shortage has caused prices to skyrocket, benefiting Micron and its peers. However, Micron's stock is currently trading at a low price of around six times fiscal year 2027 earnings due to uncertainty about its future.

Amazon is also a promising investment opportunity, with its cloud computing division Amazon Web Services (AWS) experiencing accelerating growth rates. In Q1, AWS grew at a 28% pace, increasing to 37% in Q2.