2 Artificial Intelligence (AI) Stocks That Could Go Parabolic
The growing adoption of artificial intelligence (AI) has sent shares of companies involved in the proliferation of this technology soaring over 16 months or so, with many names seeing a parabolic rise in their stock prices.
A parabolic move is a rapid rise in the share price of a company in a short amount of time, akin to the right side of a parabolic curve on a chart. Nvidia (NASDAQ: NVDA) is a classic example of this phenomenon. The graphics specialist has seen a parabolic rise in its stock price since the beginning of 2023, with its shares jumping a whopping 439% since then. Nvidia, however, is one of the many companies gaining from AI adoption.
Advanced Micro Devices (NASDAQ: AMD) and Palantir Technologies (NYSE: PLTR) are two more names that are capitalizing on AI. Let's look at the reasons why these two AI stocks could make a parabolic move.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 82 Buy predictions and 3 Sell predictions.
With a target price of 176 € there is a positive potential of 27.26% for Advanced Micro Devices Inc. compared to the current price of 138.3 €.
