What do you get when you combine beaten-down stock prices with an economic and technological niche poised to gain as it becomes ever more essential? You get stocks with a low cost of entry – plus high upside potential and approval from Wall Street’s analysts.
The niche we’re talking about is AI, artificial intelligence, once a pipe dream of science fiction but today a computing technology that is growing ever more important. AI powers the rapidly expanding Internet of Things, is the technology behind game changers like 3D printing, and has already transformed the world of online marketing. In its application to autonomous vehicles, it even promises to forever change the way we travel. No matter where you go, you can’t get away from AI.
The beaten down prices are an artifact of the current bear market and the lingering supply chain snarls. We’ve been facing a semiconductor chip shortage since last year, and it’s been affecting everything from heavy industry to health care to high-end computing. But the supply issues are starting to sort themselves out, and demand for AI-related tech remains high.
So let’s take a dive in, and look at some artificial intelligence stocks that are primed for growth in the months and years ahead – and whose prices now represent a low point of entry. We’ll take the latest data from the TipRanks platform, add in the analyst commentary on these stocks, and get a full picture.
Nvidia Corporation (NVDA)
First up is Nvidia, one of the chip industry’s major names. Nvidia has long been known for its high market share – better than 80% – in the graphics processing unit (GPU) segment, an important coup for this company, as high-end GPUs are in high demand. The chips, which were originally designed to allow sharper, more realistic graphics for computer games, have found applications in plenty of other sectors, where their high computing capacity has enabled AI and machine learning tech in data processing, medical imaging, smart home and city tech, and autonomous machines.
Nvidia has customers in all of those…