This Unstoppable Growth Stock Sees a Potential $60 Billion AI Opportunity
(NASDAQ: EQIX) has delivered remarkably steady growth. The data center operator has delivered 22 years of continuous revenue growth. It has capitalized on the ongoing digitalization of the economy, which is driving the need for more data centers to support and store all this digital information.
The digital transformation of bringing more business processes into the cloud is a long-term growth catalyst for the data center REIT. On top of that, the company sees the emergence of artificial intelligence (AI) as potentially adding fuel to that megatrend and driving more demand for data centers. AI-related infrastructure represents a potential $60 billion opportunity over the next few years.
Digital transformation is an enormous opportunity. According to an estimate by the World Economic Forum, digital transformation will create a more than $100 trillion economic opportunity over the next decade. That's leading companies to spend heavily on information technology to bring their businesses into the digital world:
Source Fool.com
Equinix Inc. Stock
We see a rather positive sentiment for Equinix Inc. with 12 Buy predictions and 1 Sell predictions.
As a result the target price of 830 € shows a slightly positive potential of 16.77% compared to the current price of 710.8 € for Equinix Inc..
