Investing in the stock market is a venture into potential prosperity, offering individuals a share in the corporate world’s success. It’s a pathway that can yield significant returns as companies grow and prosper. Yet, this journey is accompanied by inherent risks, including market volatility that can erode investment value swiftly. The stock market demands a nuanced understanding and a strategic approach to navigate its ups and downs effectively, balancing the promise of gains against the possibility of losses.
Artificial Intelligence (AI) represents a frontier of technological innovation, reshaping industries and redefining what’s possible. The allure of investing in AI stocks lies in their potential for exponential growth. It is driven by advancements that could revolutionize everyday life. Companies at the helm of AI development are often seen as pioneers. Which offers attractive opportunities for investors keen on future technologies. However, the AI sector’s rapid pace of change and the speculative nature of investments in emerging technologies introduce volatility and risk. Valuations in this space can be highly influenced by investor sentiment and market trends. This reflects the speculative bet on future successes rather than current performance.
Thus, the stock market, and AI stocks in particular, present enticing opportunities for growth. However, they also require careful consideration and risk management. Investors must weigh the potential for high returns against the uncertainty and fluctuations inherent in these investments. A well-informed, strategic approach, coupled with a clear understanding of one’s risk tolerance, is essential for navigating the complex and ever-evolving landscape of stock market and AI investments. That said, let’s explore two AI stocks to keep an eye on in the stock market today.
AI Stocks To Watch In The Stock Market Today
- NVIDIA Corporation (NASDAQ: NVDA)
- Palantir Technologies Inc. (NYSE: PLTR)
NVIDIA Corp (NVDA Stock)
Starting off, NVIDIA Corporation (NVDA) is a global leader in the field of graphics processing technology. It designs and manufactures graphics processing units (GPUs) for gaming and professional markets. As well as system-on-a-chip units (SoCs) for the mobile computing and automotive market. NVIDIA’s technology is also pivotal in the development of artificial intelligence (AI), where its GPU technology accelerates computing processes.
Late last month, NVIDIA announced it would host a conference call on February 21, following the close of the U.S. stock market. This conference call will discuss its financial results for the fourth quarter and fiscal year 2024. To recap, last quarter the semiconductor giant notched in earnings of $3.92 per share, with revenue of $18.12 billion for the quarter.
In 2024 so far, shares of NVDA stock have jumped by a whopping 42.91% YTD. Meanwhile, during Wednesday’s mid-morning trading session, NVDA stock is green on the day by 0.99% at $689.01 a share.
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Palantir Technologies (PLTR Stock)
Second, Palantir Technologies Inc. (PLTR) specializes in big data analytics. The company develops software that allows organizations to integrate, manage, and secure large volumes of data. Palantir’s products are used across various sectors, including government, defense, healthcare, and finance, to assist in decision-making processes by providing insights through data analysis.
Just this week, Palantir Technologies reported in-line Q4 2023 financial results. Diving in, the big data company posted Q4 2023 earnings of $0.08 per share, along with revenue of $608.35 million. This is versus consensus estimates for the quarter which were an EPS of $0.08 and revenue estimates of $602.55 million. Moreover, revenue increased by 19.61% compared to the same period, the previous year.
Year-to-date, shares of Palantir Technologies have advanced by 40.68% so far. While, during Wednesday’s mid-morning trading session, PLTR stock is trading green on the day so far by 7.04% at $23.41 a share.
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