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2 Artificial Intelligence (AI) Stocks That Look Undervalued in Today's Market
Is the recent tech sell-off an opportunity or a warning? These leading AI stocks look enticing at today's lower share prices.
The artificial intelligence (AI) boom is still in full swing, and experts agree that most of its shareholder value creation still lies ahead. It's like the internet in the early 2000s, personal computers in the 1980s and 1990s, or gas-powered cars replacing horse-drawn carriages long before that. The AI revolution is only getting started.
But it's not always a smooth ride to game-changing gains. Macroeconomic worries have thrown the entire stock market for a loop recently. The S&P 500 (SNPINDEX: ^GSPC) market index has fallen 9% from February's all-time highs to May 7. The tech-focused Nasdaq Composite (NASDAQINDEX: ^IXIC) index has dropped 12.7% lower over the same period.
Many of the market darlings that lifted Wall Street to those record-high levels have taken a dramatic haircut. Some AI stocks look downright affordable right now. I'm particularly intrigued by chip designer Qualcomm (NASDAQ: QCOM) and creativity tools supplier Adobe (NASDAQ: ADBE) today.
