What Gives? These Would-Be AI Stocks Are Falling Hard Wednesday.
The stock market has been on a roll lately, but it appeared Wednesday morning that investors would have to deal with at least a brief pause in the uptrend. Futures contracts on major market benchmarks were all down roughly half a percent in premarket trading, as market participants tried to weigh various impacts of a potential debt ceiling resolution as well as other macroeconomic factors.
Investors have had a close eye on artificial intelligence (AI) stocks, largely because many of them have been performing extremely well lately. But just because a company has associated itself with artificial intelligence doesn't mean that its stock is destined for immediate success. That's what shareholders in several companies are discovering Wednesday morning, as shares of HP (NYSE: HPQ), Hewlett Packard Enterprise (NYSE: HPE), and Ambarella (NASDAQ: AMBA) are all significantly lower early Wednesday. Here's a closer look at why that could be the case.
Both halves of the former Hewlett-Packard found themselves losing ground in premarket trading Wednesday morning. Shares of hardware-focused HP fell 6%, while the more services-oriented Hewlett Packard Enterprise dropped 9%.
Source Fool.com
HP Inc. Stock
We see a rather positive sentiment for HP Inc. with 14 Buy predictions and 2 Sell predictions.
With a target price of 32 € there is a slightly positive potential of 2.76% for HP Inc. compared to the current price of 31.14 €.
