Let's face it, the AI revolution is here to stay. And everyone is scrambling to get a piece of the action.
Nvidia, the leader in AI chips, has been the hottest stock this year, with its share price skyrocketing over 200%. But don't be fooled by the hype. This type of “front-page” trade is starting to get crowded. The big gains likely already happened.
The real opportunity is lurking in the background.
I'm talking about the AI service companies. These are the companies that are already providing the software and solutions businesses need to adopt AI. They are flying under the radar, but they're set for explosive growth in the coming years.
Here are 3 “hidden” AI stocks to BUY NOW before the rest of Wall Street catches on:
1. PLTR (Palantir Technologies)
Palantir is a data analytics company that provides software for governments and businesses. They're the “CIA of data,” helping organizations make sense of massive amounts of information.
And their services are in high demand in the AI era!
As more businesses adopt AI, they need help managing and analyzing the vast amounts of data that AI requires. Palantir is perfectly positioned to meet this need.
Even more exciting, analyst Chris Johnson believes PLTR is poised for a breakout. In his recent article “Three Stocks: Walmart, Palantir, and Salesforce”, he points out that Palantir “has been locked in a tight trading range for the last three trading weeks… This range-bound trading should be considered a healthy consolidation as Palantir shares have made an aggressive 25% move higher during the month of September.”
Johnson believes this consolidation is setting the stage for a surge to $40 and then $45. His long-term price target for PLTR is $50.
2. CRM (Salesforce)
Salesforce is the world's leading customer relationship management (CRM) provider. Their software is mission-critical for businesses.
And they're using AI to make their products even MORE powerful!
Salesforce's “Einstein AI” helps businesses automate tasks, personalize customer interactions, and increase sales. Their products are in high demand as companies rush to adopt AI. And Salesforce is now the clear leader in the AI-powered CRM space.
Chris Johnson, in his latest article “Three Stocks: Apple, Nike, and Carnival”, mentions that “Wall Street analyst remain bullish on the outlook for Salesforce, despite the company’s disappointing earnings guidance in late May.”
He argues that, despite a few bumps in the road, Salesforce is set for a long-term bull run with a price target of $400.
3. IBM (IBM)
IBM may seem like an OLD, boring tech giant. But they're making a huge comeback thanks to AI.
IBM's “Watson” AI platform is a leader in areas like natural language processing and machine learning. Businesses are adopting Watson to automate tasks, analyze data, and improve customer service.
IBM is proving to be a much better AI play than anyone ever expected…. and Chris Johnson seems to agree!
He notes in his article “Three Stocks: Tesla, IBM, and Bitcoin.”, “AI service stocks like Palantir (PLTR), Salesforce.com (CRM), and IBM have been showing relative strength against the AI hardware companies recently. That strength is the result of companies adopting AI-based products offered by these names. The trend should continue as the value of AI is matriculated into the economy.”
Johnson expects IBM to see continued growth with a price target of $210.
