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Last Updated on December 5, 2023 by SPN Editor

Identifying genuine AI stocks can be a complex task. Nowadays, many companies are heavily investing in AI tools and presenting themselves as AI stocks. However, it’s important to be cautious as some companies might be using older data analytic tools and misrepresenting themselves as AI companies.

If you’re interested in investing in pure AI stocks, here are some tech giants that are leading the way:

Nvidia: This company is a major player in the AI field. They produce processors that are used by internet and tech companies for cloud computing. Additionally, Nvidia’s AI chips are being used in early trials of self-driving cars, demonstrating their commitment to AI-driven growth.

Microsoft, Apple, and Alphabet: These tech titans are also significant contributors to the AI industry. They are applying AI software to a wide range of applications, including speech recognition, internet search, and image classification.

Amazon: While primarily known for e-commerce and cloud services, Amazon has also made strides in the AI sector. However, they are currently playing catch-up in the field of generative AI.

The current stock prices, the 12-month forecasted average stock prices, and the potential percentage change for each company are given below:

CompanyCurrent Price12-Month ForecastPotential Change
Nvidia (NVDA)$467.70$609.89+26.69%
Microsoft (MSFT)$378.73$392+3.45%
Apple (AAPL)$191.24$197.09+3.06%
Alphabet (GOOGL)$131.86$143.08+7.96%
Amazon (AMZN)$147.03$174.18+18.46%

Furthermore, numerous startups are racing to build AI chips for various devices, including data centers, robotics, smartphones, and drones. This rising AI trend has certainly influenced tech giants like Apple, Alphabet, Microsoft, and Facebook’s parent company, Meta Platforms (META). Amazon has already established a significant foothold in AI through its cloud-computing services and voice-activated home digital assistants.

Lastly, there are several companies working on developing the necessary software and hardware for AI technologies. These companies also present potential investment opportunities in the AI sector. It’s always a good idea to keep an eye on these companies as well.

Why we must invest in AI stocks now

Investing in AI stocks now could potentially yield significant returns in the future due to the exponential growth expected in the AI market. Companies effectively utilizing AI are likely to gain a competitive edge, potentially leading to increased profitability.

Technological Advancements: AI is at the forefront of technological innovation. Companies that are investing in AI are likely to be leaders in their respective fields, making them potentially profitable investments.

Growing Market: The AI market is expected to grow exponentially in the coming years. This growth could translate into increased stock prices for companies heavily invested in AI.

Diverse Applications: AI has a wide range of applications across various industries, including healthcare, finance, transportation, and more. This diversity could help AI stocks remain stable and profitable.

Competitive Advantage: Companies that effectively use AI can gain a competitive advantage over their peers. This advantage could lead to greater market share and profitability, which could benefit stock prices.

Future Potential: Many of the applications of AI are still being explored. Investing in AI now could yield significant returns as these applications are developed and commercialized.

What's your View?