The artificial intelligence (AI) sector represents a rapidly growing and transformative area within the technology industry. As AI technologies increasingly enable machines to learn, reason, and perform tasks with human-like intelligence. Applications of AI span a wide range of industries. This includes areas such as healthcare and finance to manufacturing and transportation, driving innovation and efficiency improvements across the global economy. As businesses and consumers continue to adopt AI solutions and technology advances, AI stocks present significant investment opportunities.
Investing in AI stocks provides exposure to the expanding market for AI technologies. As well as the potential for significant growth as these solutions become more deeply integrated into various industries. AI stocks encompass a diverse range of companies, including established technology giants like Alphabet (NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT), and NVIDIA (NASDAQ: NVDA), as well as smaller, specialized firms focusing on specific AI applications, such as machine learning, natural language processing, or computer vision. The performance of AI stocks is influenced by factors such as technological advancements, market adoption of AI solutions, and regulatory developments.
When considering an investment in AI stocks, investors should evaluate the financial health, technological capabilities, and growth prospects of individual companies. Factors such as market share, product pipeline, and R&D investments can contribute to a company’s ability to maintain a competitive edge in the rapidly evolving AI landscape. Additionally, investors should monitor the potential impact of ethical considerations and regulatory changes on the development and deployment of AI technologies. Having said that, here are three ai stocks to watch in the stock market this week.
AI Stocks To Buy [Or Sell] Right Now
- C3.ai Inc. (NYSE: AI)
- Amazon.com, Inc. (NASDAQ: AMZN)
- Adobe Inc. (NASDAQ: ADBE)
C3 AI (AI Stock)
To start, C3.ai Inc. (AI) is a leading enterprise AI software provider, specializing in the development of scalable and customizable AI applications and platforms for various industries, including energy, manufacturing, and financial services.
At the beginning of last month, C3 AI reported its third quarter 2023 financial results. In the report, the company reported better-than-expected results. Specifically, C3 AI notched in a loss of $0.10 per share, on revenue of $66.7 million. This is versus consensus estimates for the quarter which was a loss of $0.22 per share, and revenue estimates of $64.2 million. Additionally, the company said it estimates Q4 2023 revenue in the range of $70.0 to $72.0 million.
Since the start of 2023, shares of AI stock have surged by 177.06% year-to-date. Meanwhile, during Tuesday morning’s trading session, AI stock fell off the open by 9.18% at $30.76 a share.
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Amazon (AMZN Stock)
Next, Amazon.com, Inc. (AMZN) is a global e-commerce and technology giant, offering a diverse range of products and services, such as online retail, cloud computing, digital streaming, and artificial intelligence through its Amazon Web Services (AWS) and Alexa platforms.
Just today, Tuesday, Amazon released its third annual Brand Protection Report. The report showcases the company’s increased efforts to combat counterfeit products and protect customers, brands, and selling partners. By strategically using industry-leading technology and experts, Amazon has successfully referred more criminals and formed more industry partnerships than it had previously. Resulting in the identification, seizure, and elimination of over six million counterfeit products in 2022.
Year-to-date, shares of Amazon stock have jumped higher by 20.07% so far. While, during Tuesday morning’s trading session, shares of AMZN stock opened modestly higher by 0.62% at $103.04 a share.
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Adobe (ADBE Stock)
Lastly, Adobe Inc. (ADBE) is a multinational software company known for its creative, marketing, and document solutions, increasingly integrating artificial intelligence and machine learning capabilities through its Adobe Sensei technology to enhance user experiences and streamline workflows.
In March, Adobe and NVIDIA announced a new collaboration to leverage generative AI in order to enhance creative workflows. Through this partnership, both companies will jointly develop advanced generative AI models and deeply integrate them into widely-used applications such as Adobe Photoshop, Adobe Premiere Pro, and Adobe After Effects, aiming to transform and streamline the creative process for professionals worldwide.
In 2023 so far, shares of ADBE stock are up 13.60% year-to-date. Additionally, on Tuesday morning, Adobe stock opened the day slightly higher so far by 0.70% at $382.72 a share.
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