What is the best AI stock to buy in 2024?
1. Nvidia. Nvidia (NVDA -3.87%) shares already have soared in the triple digits over the past year, but this top AI stock still may have plenty of room to run.
| Company (TICKER) | 1-Year Return |
|---|---|
| Amazon.com, Inc. (AMZN) | 76% |
| ServiceNow, Inc. (NOW) | 64% |
| Palo Alto Networks, Inc. (PANW) | 36% |
| UiPath, Inc. (PATH) | 23% |
1. Nvidia. Nvidia (NVDA -3.87%) shares already have soared in the triple digits over the past year, but this top AI stock still may have plenty of room to run.
| Stock | 2024 return through March 31 |
|---|---|
| Arcutis Biotherapeutics Inc. (ARQT) | 206.8% |
| Janux Therapeutics Inc. (JANX) | 250.9% |
| Trump Media & Technology Group Corp. (DJT) | 254.1% |
| Super Micro Computer Inc. (SMCI) | 255.3% |
One company discussing plans for a 2024 IPO is Klarna, the European buy now, pay later company. Klarna aims to be the "artificial intelligence (AI) bank" and eyes a $20 billion valuation when it goes public.
But there are some strong AI stocks to buy besides Nvidia that investors should consider as well. Palantir Technologies (NYSE: PLTR), Amazon (NASDAQ: AMZN), and Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) are three stocks that all look unstoppable right now and can be excellent long-term options for AI investors.
| Company (Ticker) | Sector | Market Cap |
|---|---|---|
| MicroStrategy (MSTR) | Technology | $26.57B |
| Nvidia (NVDA) | Technology | $2.18T |
| C3.ai (AI) | Technology | $2.88B |
| Meta Platforms (META) | Communication services | $1.33T |
| Ticker | Company | Performance (Year) |
|---|---|---|
| NVDA | NVIDIA Corp | 215.60% |
| SYM | Symbotic Inc | 71.55% |
| PRCT | Procept BioRobotics Corp | 55.59% |
| HLX | Helix Energy Solutions Group Inc | 53.16% |
What are the best AI stocks to buy now? Some of the best AI stocks that you can buy with less than $5 are Nerdy (NRDY), BigBear.ai Holdings (BBAI) and FiscalNote (NOTE). These stocks are poised to see considerable growth in the future.
Wayfair Inc. (NYSE:W), Match Group, Inc. (NASDAQ:MTCH), and Palantir Technologies Inc. (NYSE:PLTR) are some of the stocks that will double in 2024, besides StoneCo Ltd.
Which stock will double in 3 years?
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Guj. Themis Bio. | 384.75 |
| 2. | Refex Industries | 141.30 |
| 3. | Tanla Platforms | 941.15 |
| 4. | M K Exim India | 76.69 |
| S.No. | Name | ROCE % |
|---|---|---|
| 2. | Insolation Ener | 19.64 |
| 3. | SG Mart | 14.52 |
| 4. | Waaree Renewab. | 83.80 |
| 5. | Veritas (India) | 4.59 |
Three of the most expensive AI stocks to own right now are Nvidia (NASDAQ: NVDA), SoundHound AI (NASDAQ: SOUN), and MicroStrategy Incorporated (NASDAQ: MSTR).
What is AI's upside potential, based on the analysts' average price target? C3ai has 49.02% upside potential, based on the analysts' average price target. Is AI a Buy, Sell or Hold? C3ai has a conensus rating of Hold which is based on 3 buy ratings, 7 hold ratings and 3 sell ratings.
Prediction: By 2025, AI-powered robotics are projected to automate 50% of manual tasks in industries like manufacturing, subsequently increasing productivity by 30%.
- Google (Alphabet Inc. ...
- Microsoft: Microsoft is actively involved in AI research and development, incorporating AI into products like Azure AI, Microsoft 365, and cognitive services.
- IBM: IBM has been a pioneer in AI research and development for many years.
| Company (Ticker) | Forward P/E Ratio |
|---|---|
| Fidelity National Information Services, Inc. (FIS) | 15.3 |
| Intuitive Surgical, Inc. (ISRG) | 60.9 |
| The Kraft Heinz Company (KHC) | 12.2 |
| The Progressive Corporation (PGR) | 23.3 |
Software and services companies and commercial and professional services firms appear to have the biggest potential for earnings gains from AI, because they have a combination of relatively high labor costs overall and a high share of their labor bill that may be exposed to AI automation.
Consider investing in venture capital funds: Venture capital firms invest in startups and early-stage companies that are developing innovative technologies, including AI. These funds can provide exposure to a diversified portfolio of companies with high growth potential.
The stock holds an Accumulation/Distribution Rating of C+. That shows interest among institutional buyers is waning over the last 13 weeks. Nvidia stock is not a buy right now. However, if the stock climbs above its flat base, it would be a buy.
What are the best AI stocks for February 2024?
Investors looking to capitalize on the AI trend might wish to focus on companies meaningfully contributing to the AI boom. The most popular AI-focused stocks on the NYSE or the Nasdaq for February 2024 include Phunware, Tesla, Advanced Micro Devices, Ford, and SoFi.
Over the coming year, investors should closely watch the development of AI legislation across individual states in the U.S. and elsewhere in the world. The most popular AI-focused stocks on the NYSE or the Nasdaq for March 2024 include AMD, Apple, NVIDIA, Amazon, and Intel.
| Stock | Expected Change in Stock Price* |
|---|---|
| Tesla Inc. (TSLA) | 61% |
| Mastercard Inc. (MA) | 14.2% |
| Salesforce Inc. (CRM) | 7.2% |
| Advanced Micro Devices Inc. (AMD) | 11.3% |
| Stock Ticker | Company | Performance (YTD) |
|---|---|---|
| NASDAQ: AISP | Airship AI Holdings Inc | + 384.21% |
| NASDAQ: MRAI | Marpai Inc | + 54.02% |
| NASDAQ: HOLO | MicroCloud Hologram Inc | + 3.35% |
| NASDAQ: PHUN | Phunware Inc | + 104.81% |
- Canaan Inc.( CAN) $ 1.100000 -17.91% ...
- SoundHound AI, Inc.( SOUN) $ 4.06 -54.43% ...
- Lantern Pharma(LTRN) $ 6.00 -31.03% Past 1M. ...
- CXApp Inc.( CXAI) $ 3.91 34.36% ...
- BigBear.ai Holdings, Inc.( BBAI) ...
- Rekor Systems(REKR) $ 1.870000 -9.22% ...
- Gaxos.ai Inc.( GXAI) ...
- Himax Technologies, Inc.( HIMX)
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