Technology stocks are in terrific form so far this year, which is evident from the 26% gains clocked by the Nasdaq-100 Technology Sector index in 2023. Cloud communications specialist (NYSE: TWLO) is one of the beneficiaries of this rally. Share prices of Twilio are up 20% in 2023.

But the stock has lost some momentum recently, falling 9% in the past three months. One reason is likely concerns from investors that its growth is slowing. First-quarter results, released on May 9, reaffirmed those fears and the stock plunged substantially.

But a closer look at Twilio's business suggests that now could be a good time to buy this cloud stock, especially considering that it could win big from artificial intelligence (AI). Let's look at why it could regain its mojo.

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Source Fool.com