Snap Stock Jumps on a New Generative AI Feature: Here's Why It's a Buy Now
Companies across America are racing to integrate artificial intelligence (AI) into their businesses on the promise of improved productivity and the chance to transform customer experiences. How hyped up is the interest in AI? An analysis by The Washington Post found that more than 1,000 companies mentioned AI in their earnings conference calls for the quarter ended June 30.
(NYSE: SNAP), which is the parent company of popular social media platform Snapchat, has rolled out several unique AI features this year, including one it just announced on Aug. 29. It's called "Dreams," and it's powered by generative AI, which empowers users to create digital renderings of themselves in different fantasy settings.
Investors sent Snap stock price higher by almost 5% immediately following the announcement. However, it's still trading 87% below its all-time high amid a very tough environment for the advertising industry as a whole. Here's why that's an opportunity to buy it now.
Source Fool.com
Snap Inc Stock
Currently there is a rather positive sentiment for Snap Inc with 14 Buy predictions and 6 Sell predictions.
With a target price of 14 € there is a hugely positive potential of 63.32% for Snap Inc compared to the current price of 8.57 €.
