Forget Nvidia? 2 Top AI Stocks to Buy in 2023
The artificial intelligence (AI) boom is getting a little long in the tooth, with industry front-runners like Nvidia (up 230% year to date) seeing their stock prices soar to astronomical levels. But (NASDAQ: GOOGL) (NASDAQ: GOOG) and Adobe (NASDAQ: ADBE) could make great options for more value-conscious investors. Let's dig deeper to find out why.
Up by 48% year to date, Google's parent company, Alphabet, has performed well in 2023. And while it hasn't reached the eye-watering valuation of Nvidia, the technology giant's more reasonable price tag and potential to weave AI-related technologies across its business empire position it for continued long-term success.
With a 93% market share in internet search, addressing the threats (and opportunities) presented by generative AI is crucial to Google's success. To protect its economic moat, Alphabet has invested heavily in its Bard chatbot, a direct rival to OpenAI's ChatGPT. The company is also using AI to improve its Google search platform -- adding features such as text-based query responses and AI-powered article summaries.
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 89 Buy predictions and no Sell predictions.
As a result the target price of 186 € shows a slightly positive potential of 5.8% compared to the current price of 175.8 € for Alphabet Inc. A.
