2 Artificial Intelligence (AI) Stocks That Could Go Parabolic
Artificial intelligence (AI) stocks have been in red-hot form on the market in 2023, which is not surprising -- the technology has the ability to transform multiple industries and significantly boost the global economy.
Goldman Sachs estimates that generative AI could boost the global gross domestic product (GDP) by 7%, or $7 trillion, over the next decade. This explains why Nvidia (NASDAQ: NVDA) stock has erupted over the past year and jumped 192% as of this writing. However, this massive rally in Nvidia stock isn't over yet, and the Wall Street-high price target of $1,100 per share suggests that the stock could go on another quick run higher and rise 170% from current levels.
However, Nvidia isn't the only AI stock that could go on a parabolic run, which refers to a rapid rise in the price of a stock in a short time span, akin to the right side of a parabolic curve on a chart. (NASDAQ: MSFT) is another tech giant capable of going parabolic after its latest results. Let's look at the reasons why both Nvidia and Microsoft could soar much higher.
Source Fool.com
Microsoft Corp. Stock
With 109 Buy predictions and 1 Sell predictions Microsoft Corp. is one of the favorites of our community.
As a result the target price of 426 € shows a slightly positive potential of 11.02% compared to the current price of 383.7 € for Microsoft Corp..
