Key Points
- December could be a great month for stocks as the AI trade heats up again; Santa Claus is heading this way.
- November's price correction sets stocks like AMD and AVGO up for robust rebounds.
- Analyst sentiment is bullish for these five stocks, indicating potential for new highs in the next few quarters.
November was a challenging month for stocks, as macroeconomic concerns and concerns about an AI bubble weighed on prices. Most S&P 500 (NYSEARCA: SPY) stocks moved lower, but there is good news. The correction bottomed late in the month as the AI trade was reaffirmed, leaving them in a rebound mode as December approached. The takeaway for investors is that many of the hottest AI trades are rebounding the strongest as of late November, and they are trading at long-term lows with ample upside potential.
The caveat is that previous leaders, such as NVIDIA (NASDAQ: NVDA), may continue to face scrutiny as competition intensifies. Among the stories emerging in November is Alphabet (NASDAQ: GOOGL). Its long-awaited Gemini update was released, along with other bullish news that rocketed it to the top of the AI mountain.
While Alphabet is an outstanding stock and an obvious AI trade winner, its price is well above its moving averages, making it less attractive to new money than some others. Here’s a look at five stocks well-positioned to benefit from AI trends in December and in 2026.
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#1 - Advanced Micro Devices Will Take Share From NVIDIA in 2026
If any company is poised to gain share from NVIDIA, it is AMD (NASDAQ: AMD). AMD is on track to launch its MI450 line late in 2026, which will open the door to hyperscaler demand. The likely outcome is that revenue will surge by triple digits over the subsequent few quarters, driving a robust stock price increase for shareholders.
The story now is that AMD’s stock price has corrected by 25% but is showing significant support at levels aligned with the top of its open price range. AMD’s stock price could rebound by as much as 30% in this scenario, yet still not reach its previous peak.
In that scenario, price action will retest the current high, but analyst trends suggest a new all-time high is the minimum to be expected. Based on analyst data tracked by MarketBeat, this stock could reach $380 within the next 12 months.
#2 - Broadcom Breaking Out as November Comes to a Close
Broadcom (NASDAQ: AVGO) is also poised to gain share from NVIDIA. While NVIDIA’s strength lies in its general-purpose AI-capable GPUs, Broadcom’s is in its custom capability. It is leaning hard into the custom market, focusing on its few large customers, which include Apple (NASDAQ: AAPL), Meta (NASDAQ: META), and Alphabet. As it stands, the company has a robust, double-digit CAGR forecast for revenue and earnings growth from analysts that is obviously too low.
The late-month news from Amazon (NASDAQ: AMZN), which includes plans to spend up to $50 billion on AI infrastructure for the government (which will require numerous custom ASICs and GPUs), has yet to be factored in. Regarding the price action, AVGO stock reached new highs and triggered a strong entry signal late in November. Analysts' trends suggest it can rise by another 20% to 25%.
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#3 - Applied Digital: GPU Capacity Is Sold Out
Applied Digital (NASDAQ: APLD) is among a few niche data center operators well-positioned for the AI boom. The news from NVIDIA’s Q3 report says it all: NVIDIA’s GPUs and AI compute capacity are sold out. That means anyone offering GPU-as-a-service, such as Applied Digital, will be in high demand.
And its core business, building and operating AI-capable data centers for client use, is also strong. The latest news is that hyperscaler demand for its second campus is strong and that it is on track to sell out before completion.
Analysts forecast this stock to advance by 10% at the consensus, but the trends point to the high end range and a nearly 80% upside.
#4 - Ondas Holdings: A 30% Stock Price Surge Is Just the Beginning
Ondas Holdings (NASDAQ: ONDS) is emerging as a player in the drone industry. Its products are in high demand due to their capability and cost-effectiveness, with growth accelerated by repeat orders, new contracts, and acquisitions. The company forecasted more than $110 million in 2026 revenue, sufficient to sustain its triple-digit hyper-growth pace, and it is likely to be a low estimate.
Analyst trends remain robust, with coverage expanding and sentiment strengthening.
The price target trend places this market at $12, a long-term high that puts it on track to retest all-time highs near $16, and institutional buying aligns with this trend. The group owns only 37% of the stock as of late November, but is aggressively accumulating at a pace of $10 bought for each $1 sold.
#5 - MP Materials Is a Good Buy After Its 50% Correction
MP Materials' (NYSE: MP) stock price surged to over $100 due to its position in the rare-earth market and the U.S. government's purchase of a stake. Now that it has corrected by 50%, it appears to be a good buy. Not only is it producing revenue and on track for profits next year, but analysts like it and are upgrading the stock.
Among the latest are upgrades from JPMorgan and Goldman Sachs, which highlight its vertically integrated business and alignment with national security interests. They see it trading near $75, which is sufficient for a 30% upside, and admit there is potential for further upside in their forecasts.
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