Georgia Rep. Marjorie Taylor Greene has been on a roll this year. In 2024, she has already placed trades worth $1.97 million, of which $1.91 million were buys. This marks her most active year since taking office in 2021 by a wide margin. Since 2021, her trades have totaled $3.58 million.
Greene recently disclosed several trades of companies that can be classified as artificial intelligence (AI) beneficiaries. This is notable because she is a member of the Subcommittee on Cybersecurity, Information Technology, and Government Innovation.
The first is Applied Materials (NASDAQ:AMAT), which is up by over 30% year-to-date (YTD). The company can be thought of as a pick-and-shovel play for the semiconductor industry, as it creates technology for semiconductor manufacturing. Greene picked up between $1,001 and $15,000 of AMAT stock on July 24.
Next up is Dell Technologies (NYSE:DELL), which provides personal computers, server equipment and data storage. On the same day, Greene purchased between $1,001 and $15,000 of DELL.
Marjorie Taylor Greene Doubles Down on AI Boom With New Buys
Greene’s next purchase was poorly timed, as Corning (NYSE:GLW) is trading lower today after reporting its earnings. The company is best-known as a specialty glass producer and serves large customers such as Apple (NASDAQ:AAPL).
During the second quarter, Corning churned out $3.6 billion in revenue with an EPS of 47 cents. Analysts were expecting revenue of $3.55 billion and an EPS of 46 cents. Still, GLW stock is down because of its third-quarter guidance of $3.7 billion while analysts were expecting $3.76 billion.
On July 23, Greene bought between $1,001 and $15,000 of GLW stock. GLW is down more than 10% since then.
Last but not least is Duke Energy (NYSE:DUK). AI applications use up a significant amount of energy, making DUK stock a pick-and-shovel play for the industry as well. Greene acquired between $1,001 and $15,000 of Duke Energy on July 23.
Excluding AI beneficiaries, Greene also purchased two other companies on July 23, which are JPMorgan Chase (NYSE:JPM) and United Parcel Services (NYSE:UPS), adding between $1,001 and $15,000 of each. On July 24, she also bought between $250,001 and $500,000 of U.S. Treasury Bills.
On the date of publication, Eddie Pan held a LONG position in AAPL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
