1 Artificial Intelligence (AI) Stock Down 25% to Buy Hand Over Fist Before It Jumps 170%
Artificial intelligence (AI) stocks have been all the rage on the stock market in 2023. The rapidly growing adoption of this technology has turned out to be a major catalyst for companies that are driving the AI revolution, making semiconductor companies solid investments this year.
The PHLX Semiconductor Sector index has jumped an impressive 36% in 2023, outpacing the S 500's gains of 12% by a massive margin. However, not all components of the semiconductor index have been on fire. ASML Holding (NASDAQ: ASML), for instance, is up just 5% in 2023.
It is worth noting that the Dutch semiconductor bellwether got off to a solid start and logged impressive gains until the beginning of July. It also delivered robust second-quarter results in July that saw ASML management raise its full-year guidance. However, shares of the company are down 25% since hitting their 52-week highs in mid-July.
Source Fool.com
