Artificial Intelligence (AI) is transforming the way businesses operate and drive growth. It is a branch of computer science that deals with creating intelligent machines that can perform tasks that typically require human intelligence such as speech recognition, visual perception, decision-making, and language translation. AI has been making significant progress in recent years, due in part to advances in machine learning and data processing, and is poised to revolutionize many industries, including healthcare, finance, and retail.
Investing in Artificial Intelligence (AI) stocks can provide investors with opportunities to benefit from the growth and development of this rapidly evolving technology. AI companies are involved in developing and providing AI-powered solutions and services to various industries. Investing in AI stocks can be a good way to gain exposure to the growth potential of this exciting technology. However, as with any investment, it is important to thoroughly research and understand the risks involved before making any investment decisions. Retail investors should consider the financial performance of AI companies, their competitive landscape, and their future growth prospects before making any investment decisions.
Additionally, it is important to keep in mind that AI stocks can be volatile and the performance of individual stocks can be impacted by a variety of factors, including economic conditions and technological advancements. Keeping this in mind, here are three large-cap AI stocks to watch in the stock market this upcoming week.
AI Stocks To Buy [Or Avoid] Now
- Microsoft Corporation (NASDAQ: MSFT)
- Alphabet Inc. (NASDAQ: GOOGL)
- Amazon.com, Inc. (NASDAQ: AMZN)
Microsoft Corporation (MSFT Stock)
Leading off, Microsoft Corporation (MSFT) is a multinational technology company. In short, the company develops, licenses, and sells computer software, consumer electronics, and personal computers. It has a strong presence in the AI industry through its AI platform, Azure, which provides cloud-based AI services and tools to businesses and developers. Microsoft also has a growing portfolio of AI-powered products and services.
Just last month, Microsoft released its Q2 2023 financial and operating results. Diving in, the technology company exceeded expectations with earnings per share of $2.32, higher than the anticipated $2.27 per share. While notching in total revenue of $52.7 billion for Q2 2023. Additionally, the company showed growth with a 2% increase in revenue compared to the previous year.
In the last month of trading, shares of MSFT stock have gained by 10.31%. Meanwhile, as of Friday’s closing bell, Microsoft stock closed the day slightly down by 0.20% at $263.10 a share.
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Alphabet Inc. (GOOGL Stock)
Next, Alphabet Inc. (GOOGL), the parent company of Google, is a technology company that specializes in Internet-related services and products. It is a leader in the AI industry, with its AI subsidiary, DeepMind, making significant advancements in the field.
Earlier this month, Alphabet announced its Q4 2022 and full-year 2022 financial results. Specifically, the tech giant reported Q4 2022 earnings of $1.05 per share, along with revenue of $76 billion. However, this came in under consensus estimates for the quarter, which was earnings of $1.14 per share, and revenue estimates of $76.6 billion. Moreover, Alphabet reported a 1% increase in revenue versus the same period, a year prior.
Looking at the last month of trading action, GOOGL stock has advanced by 3.77%. Aside from that, shares of GOOGL stock closed out Friday’s trading session down 0.46% at $94.57 per share.
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Amazon.com (AMZN Stock)
Last but not least, Amazon.com, Inc. (AMZN) is a multinational technology company. For starters, the company focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It uses AI to improve its e-commerce platform, provide personalized shopping experiences, and enhance its cloud computing services. Amazon’s AI-powered products and services, such as Amazon Alexa and Amazon Web Services.
This month, the e-commerce behemoth released better-than-expected fourth-quarter and full-year 2022 financial and operating results. In detail, Amazon posted Q4 2022 earnings of $0.21 per share, with revenue of $149.2 billion. For context, Wall Street analysts projected 4th-quarter 2022 earnings of $0.15 per share, on revenue estimates of $145.4 million. What’s more, the company reported a revenue growth of 8.6% versus the same period, the previous year.
In the last month of trading, shares of Amazon.com stock have bounced by 2.46%. Meanwhile, as of Friday’s closing bell, shares of AMZN stock are trading at $97.61 a share.
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