Artificial Intelligence (AI) is a hot topic these days and it’s changing a lot of industries, from healthcare to self-driving cars. Basically, AI is a technology that allows machines to learn and make decisions, kind of like how humans do. This has big implications for businesses and is creating a lot of opportunities for companies to grow and make more money. That’s why the AI industry is expected to keep getting bigger and more influential.
When it comes to the stock market, AI stocks are shares in companies that are heavily involved in AI technology. These companies can range from big tech giants like Google (NASDAQ: GOOGL) and Apple (NASDAQ: AAPL), who use AI for things like data analysis and virtual assistants, to smaller companies focused solely on AI applications, like machine learning or robotics. Investing in AI stocks is seen as a way to cash in on this growing trend, as these companies stand to make a lot of money as AI tech gets more advanced and widespread.
However, investing in AI stocks isn’t a surefire win. Like any investment, there’s a level of risk. AI is still a pretty new field and there are many technical challenges that these companies face. Plus, there’s a lot of competition, which means some companies might not make it in the long run. So, if you’re thinking about investing in AI stocks, it’s crucial to do your own research. This will help you better understand the risks and opportunities in this fast-moving industry. With that being said, let’s look at two AI stocks to keep an eye on in the stock market right now.
AI Stocks To Watch Today
Salesforce (CRM Stock)
Salesforce Inc. (CRM) is a global leader in customer relationship management (CRM) software, offering cloud-based solutions that help companies better engage with their customers. Serving a wide range of industries from retail to healthcare, Salesforce’s suite of applications covers sales, service, marketing, and more.
Just yesterday, Wednesday, Salesforce announced better-than-expected second-quarter FY 2024 earnings results. Diving in, the company reported Q2 2024 earnings of $2.12 per share, with revenue of $8.60 billion. This is versus Wall Street’s consensus estimates for the quarter which were an EPS of $1.90 on revenue of $7.84 billion. As a result, revenue increased by 11.44% compared to the same period, the prior year.
Over the past 5 trading days, shares of CRM stock have advanced by 8.97%. Meanwhile, during Thursday morning’s trading session, Salesforce stock opened higher on the day so far by 4.28%, trading at $224.40 per share.
Microsoft (MSFT Stock)
Next, Microsoft Corporation (MSFT) is a multinational technology company with a diverse range of products and services, including operating systems, productivity software, and cloud computing solutions. It’s best known for its Windows operating system, Microsoft Office suite, and its Azure cloud services.
In July, Microsoft announced its fourth quarter 2023 financial results. Specifically, the tech giant posted earnings of $2.69 per share on revenue of $56.19 billion. For context, this came in better than Wall Street’s consensus estimates for the quarter which were earnings of $2.54 per share, along with revenue of $55.44 billion. Moreover, revenue jumped by 8.34% versus the same period, the previous year.
Over the past 5 trading days, shares of MSFT stock are up 1.97%. While, during Thursday’s mid-morning trading session, Microsoft stock opened slightly lower by 0.29%, trading at $327.83 a share.