Goldman Sachs remains selectively optimistic about AI infrastructure builders heading into the new year. In a report released in early December, the Wall Street investment bank identified continued growth in demand for basic artificial intelligence infrastructure as a catalyst in 2025. , which is beneficial to anyone selling artificial intelligence data center equipment. Analysts led by Michael Ng wrote in the 53-page report. In the more cyclical parts of the hardware and software industry, Goldman Sachs singled out information technology dealers as an area that looks attractive. The company expects the PC and campus networking markets to resume growth and recovery in 2025. end of – support and demand for PCs with artificial intelligence capabilities,” the analysts wrote. In a report, Goldman Sachs shared its top picks for stocks in the sector in 2025, as follows: Dell Technologies soared 53% in 2024, but Goldman Sachs believes the PC maker still has more upside. The bank’s 12-month price target is $165, about 38% above Thursday’s closing price. Likewise, Goldman Sachs is also bullish on Arista Networks, which has seen its shares rise 91% this year. The bank’s $120 price target implies room for 4% upside. “We are selectively bullish on ANET and Dell as beneficiaries of AI infrastructure demand given their early market share leadership in AI servers and switching,” Goldman wrote, adding that the two names The future should bring strong returns. Goldman Sachs also said that Penguin Solutions is an attractive stock among artificial intelligence infrastructure builders. Among information technology dealers, Goldman Sachs recommended Ingram Micro and TD Synnex. “We view IT distributors INGM and SNX, major distributors of PCs and campus networking equipment, as relatively more attractive ways to invest in cyclical recovery themes through 2025,” the bank said. Shares in TD Synnex have risen this year At 10%, Goldman’s price target of $141 implies that the stock could rise another 18% from current levels. While Ingram Micro’s shares have fallen 12% since its initial public offering price of $22 a share in October (Goldman Sachs was one of three lead managers on the IPO), the bank’s $33 price target is comparable. potential upside of approximately 62%.
