SNOW - Forget Nvidia: 2 Artificial Intelligence (AI) Stocks With More Upside to Buy Now According to Wall Street
2024-04-16 04:45:00 ET
Artificial intelligence (AI) is revolutionizing the technology landscape. Its potential to improve productivity recently led JPMorgan Chase CEO Jamie Dimon to write, "We are completely convinced the consequences will be extraordinary and possibly as transformative as some of the major technological inventions of the past several hundred years." He specifically mentioned the discovery of electricity and the invention of the internet.
Against that backdrop, investors have been ploughing money into chipmaker Nvidia (NASDAQ: NVDA) , a sensible move given that its graphics processing units "underpin all of the most advanced AI systems, giving the company a market share estimated at more than 80%," according to The Wall Street Journal.
However, Nvidia shares have soared 480% since the beginning of 2023, and Wall Street analysts now see more upside in other AI stocks like CrowdStrike (NASDAQ: CRWD) and Snowflake (NYSE: SNOW) . The median price estimates (and the implied upside) for those companies are as follows:
For further details see:
Forget Nvidia: 2 Artificial Intelligence (AI) Stocks With More Upside to Buy Now, According to Wall Street