News Formal

Wall Street is bullish on copper, thanks to AI. Analysts love these stocks, giving one 234% upside

  • 📰 CNBC
  • ⏱ Reading Time:
  • 22 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 72%

Stock Markets News

Solaris Resources Inc,Filo Mining Corp,Energy

The metal's rally has been fueled by supply risks and rising demand for it amid the energy transition and the artificial intelligence boom.

Wall Street is getting very bullish on copper, despite the metal's recent rallies . The rallies have been fueled by supply risks and rising demand for it amid the energy transition and the artificial intelligence boom. Copper is used in data centers for power cables, electrical connectors, power strips and more, Jefferies noted in an April 10 note. It estimates that global copper demand by data centers will increase from 239 kt in 2023 to at least 450 kt per annum in 2030.

"Hopes for GenAI / data centre copper demand growth are adding to investor bullishness on copper, against a backdrop of constrained supply," it wrote. Demand for copper is also widely considered an indicator of economic health. The metal has a wide range of applications throughout construction and industry. It's also a critical component in electric vehicles, used in batteries, wiring, charging points and more.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Top Wall Street analysts like these dividend stocks for portfolio incomeTipRanks' analyst ranking service highlights Wall Street's best-performing stocks, including Bank of America and PepsiCo.
Source: CNBC - 🏆 12. / 72 Read more »

Top Wall Street analysts prefer these three stocks for the long haulTipRanks' analyst ranking service highlights Wall Street's best-performing stocks, including CrowdStrike and BJ's Wholesale Club.
Source: CNBC - 🏆 12. / 72 Read more »

Top Wall Street analysts like these 3 stocks for their growth prospectsTipRanks’ analyst ranking service highlights Wall Street’s best-performing stocks, including Amazon and BJ’s Wholesale Club.
Source: NBCDFW - 🏆 288. / 63 Read more »

Top Wall Street analysts like these 3 dividend stocks for passive incomeTipRanks’ analyst ranking service highlights Wall Street’s best-performing stocks, including Walmart and SLB
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »