SHOP - Is Shopify an Overlooked Artificial Intelligence (AI) Powerhouse?
2024-05-06 10:15:00 ET
Artificial intelligence is on the rise, and many investors are looking for stocks that will capitalize on the trend. There are some software stocks with direct exposure, but perhaps the best place to look is where the benefits of AI aren't as easily recognized.
There's one overlooked AI powerhouse in particular that should use the technology to create large value for investors, even if the market hasn't caught on just yet.
Shopify (NYSE: SHOP) is a wonderful stock even before diving into its AI upside. The company launched in 2006 after a pair of entrepreneurs attempted to start an online storefront for their snowboarding business. Disappointed with the lack of technology options for creating digital storefronts, one of the entrepreneurs with experience in coding decided to build his own. The result was the Shopify e-commerce platform: a one-stop shop for individuals and businesses looking to start selling online.
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Is Shopify an Overlooked Artificial Intelligence (AI) Powerhouse?