Artificial intelligence (AI) is a rapidly developing field of technology that entails the creation of machines and algorithms capable of performing intelligent tasks. AI has the potential to transform many industries, from healthcare to transportation and beyond. As a result, investing in AI stocks can provide investors with exposure to a rapidly growing and innovative sector with strong long-term growth potential.
With that, investing in AI stocks can be a good way to get a foothold in this emerging industry. However, it is critical to understand that investing in individual stocks is risky, and not all companies in the AI industry will perform equally. Before making any investment decisions, as with any other, it is critical to thoroughly research each company and its financials. When investing in AI stocks, some important factors to consider include the company’s revenue growth, market share, and the strength of its management team.
Overall, investing in AI stocks can provide investors with a way to potentially profit from the industry’s growth and innovation. However, it is critical to remember the risks of investing in individual stocks and to always maintain a diversified portfolio to manage risk. As a result, investors can make more informed decisions and potentially achieve their investment objectives. If this has you keen on investing in the ai sector, here are two names to watch in the stock market now.
AI Stocks To Watch Right Now
- C3.ai Inc. (NYSE: AI)
- Adobe Inc. (NASDAQ: ADBE)
C3 AI (AI Stock)
To begin, C3.ai Inc. (AI) is a provider of enterprise-level artificial intelligence solutions. The company offers software-as-a-service applications that enable customers to quickly develop, deploy, and operate large-scale AI applications across any infrastructure.
Just last week, the company reported its Q3 2023 financial results. Specifically, C3 AI showed a loss of $0.10 per share, along with revenue of $66.7 million. This came in better than Wall Street’s consensus estimates for the 3rd quarter of 2023 which were a loss of $0.22 per share, and revenue estimates of $64.2 million. Additionally, the company said it estimates the 4th quarter of 2023 revenue in the range of $70.0 million to $72.0 million.
Year-to-date shares of AI stock have surged 142.10% so far. Meanwhile, in Tuesday’s mid-morning trading session, AI stock is trading lower on the day so far by 2.52% at $26.66 a share.
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Adobe (ADBE Stock)
Next, Adobe Inc. (ADBE) is a well-established software company that has made significant investments in AI technology. By incorporating AI into its products and services, Adobe has been able to offer customers new and innovative ways to create, manage, and deliver content across a range of platforms.
On Monday of this week, the company announced that it was releasing its 1st quarter of 2023 financial results. In detail, Adobe is set to report its Q1 2023 results on Wednesday, March 15, 2023, after the close of the U.S. stock market. To briefly recap, in Q4 2022, ADBE reported earnings of $3.50 per share and revenue of $4.5 billion.
In 2023 thus far, shares of ADBE stock have increased by 3.34% year-to-date. While during Tuesday’s mid-morning trading session, ADBE stock is trading slightly higher on the day by 0.20% at $347.51 a share.
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