OKTA - Top 5 Stocks Leveraging AI (SA Quant)
2024-05-07 05:00:00 ET
Summary
- The Artificial Intelligence frenzy sent stocks to record highs 22 times in Q124, with nearly one-third of the S&P 500 citing “AI” in earnings calls.
- Companies worldwide invested $153.85B in AI in 2023. The AI-centric tech solutions industry is expected to reach $300B in 2027, including $55.7B from GenAI.
- Non-tech stocks stand to gain from AI, with machine learning and artificial intelligence enhancing products and services, boosting productivity, and streamlining operations.
- SA’s Quant Team selected five stocks leveraging AI, including two tech firms and three manufacturing companies, up on average ~45% in the past year and +16% YTD, with solid momentum, profitability, and growth factor grades.
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Top 5 Stocks Leveraging AI (SA Quant)