3 Cheap AI Stocks to Buy Before the End of 2022
Faced with mounting economic uncertainty and the fast pace of interest rate hikes by the U.S. Federal Reserve to tamp down rising inflation, tech stocks had a year of reckoning in 2022. With company growth rates slowing as we head into 2023, many top tech names were sold off and left for dead.
Ignoring these stocks could be a mistake, though, as growth prospects are still robust for the decade ahead -- especially for AI and cloud computing. Three cheap AI stocks to consider before the end of the year are Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), Meta Platforms (NASDAQ: META), and Pinterest (NYSE: PINS). Here's why.
Google parent Alphabet put up lackluster numbers in Q3 2022 (year-over-year revenue growth of just 6%, and operating profit margin contraction to 25% compared to 32% last year), but the company still has lots going for it. Search is a fundamental feature of the internet, used by billions worldwide every day. Alphabet continues to improve internet search functionality using AI all the time, installing high-end computing equipment in its global data centers to provide things like search recommendations to image-based search using Google Lens.
Source Fool.com
