Is SoundHound AI Stock a Buy Now?
The mania for artificial intelligence (AI) stocks has cooled a bit, with some titles cooling more than others. Among the lower-temperature ones is SoundHound AI (NASDAQ: SOUN), which specializes in audio and speech recognition for a variety of applications.
SoundHound AI occupies an identifiable niche and, unlike other AI companies, has long experience on its side -- it was founded in 2005 (although it only came to the stock market in early 2022). Nevertheless, it operates in a high-cost environment, and its revenue has been slowing. So is this stock a bargain in the relatively expensive AI sphere at the moment, or a value trap best avoided?
SoundHound AI began life as a developer of music recognition software. If the company is familiar to the broader public at all, it's likely for its near-namesake SoundHound mobile app. This is a neat little piece of software that can identify music through a device's microphone.
Source Fool.com
