2024-01-07 07:00:00 ET
Just about every company on Earth pushed to incorporate artificial intelligence into their operations and products in 2023. Indeed, AI is driving massive increases in productivity for knowledge workers around the world. And one company is poised to see a huge benefit as businesses push to make their employees more efficient.
Zoom Video Communications (NASDAQ: ZM) has built out several AI features to help remote workers -- everyone from salespeople to software engineers -- use their time more effectively. And Ark Invest thinks Zoom's AI-related products and services could provide a massive boost to revenue. The analyst team led by Cathie Wood slapped a $1,500 price target on the stock for 2026. That implies a massive 2,139% upside from where the stock trades as of this writing.
And Ark Invest is putting its money where its mouth is. Zoom is the fifth-largest holding in its flagship Ark Innovation ETF , as well as the fourth-largest holding in the Ark Next Generation Internet ETF .
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1 Surprising Artificial Intelligence (AI) Stock to Buy Before It Grows 2,139%, According to Cathie Wood's Ark Invest