Thanks to Artificial Intelligence, people today live in a new world. Informally called AI, artificial intelligence is advancing technology. For investors looking for growth opportunities in the tech sector, AI stocks are an attractive investment.
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Do you want to invest in artificial intelligence? Read on to find out how. Artificial intelligence stocks are uncommon. Several firms are dedicated to AI development and providing AI services. However, few publicly traded AI stocks exist.
Throughout history, technology has evolved rapidly from one stage to another. Portfolio analysis is a slower process for investors. Nevertheless, you will need to think quickly and rationally if you want to invest in technology stocks. You can diversify your portfolio with AI stocks.
In Musk’s opinion, AI will annihilate humans in every game they play. Job opportunities will be limited across a multitude of industries. Telemarketing, bookkeeping clerks, receptionists, couriers, proofreaders, and many more jobs will no longer exist in the near future.
AI-based companies are expected to grow in size over time, which will benefit investors. So, we present the best AI stocks at the moment that have the potential for long-term growth. Let’s get started.
International Business Machines (IBM)
The company offers hardware, software, and services to large enterprises through an integrated approach. There are still many industries where IBM’s mainframe systems are used, and it regularly signs multi-year technology contracts worth hundreds of millions of dollars.
Despite the fragmentation of the AI market, International Business Machines (IBM) leads the way. It has an 8.8% market share in AI software platforms, or $303.8 million in revenue, a 26% increase from the year before. IBM was ranked the leader in AI software platforms by IDC in 2019.
IBM’s year-to-date performance is at 0.99%. The 7-day charts show that the stock’s price has gained by 1.57% over the last week and -11.19% over the past month.
Micron Technology (MU)
Micron Technology manufactures memory chips that are used in solid-state storage drives, such as DRAM memory and NAND flash memory. Most products made by the company are commodity products whose prices are driven by supply and demand.
There is no doubt that in the future, demand for memory chips will only increase, and this is particularly true in the AI sector. For example, autonomous cars. MU estimates that the sensors and cameras generate around 1 GB of data every second. Both data centers and smartphones using AI processes require ample memory. The camera function on iPhones, for example, uses artificial intelligence to produce better images.
In the last week, the price of Micron Technology (MU) has increased by 4.41%. Over the past three months, its price has fallen by -12.57%. The stock has declined -5.23% since the beginning of the year while losing -15.98% over the past six months.