Down 54%, Should You Buy the Dip on SoundHound AI?
So far this year, shares of voice-recognition specialist SoundHound AI (NASDAQ: SOUN) have seen their value plummet by more than 50%. That's a frightening decline. But when you zoom out, the decline isn't as horrible as it seems. Over the past 12 months, shares are actually up by more than 100%.The sharp correction in SoundHound's share price, therefore, may have simply been a temporary reset. Long-term, there's a lot to get excited about, especially when it comes to the company's expected sales growth this year and beyond.Investors have a lot of questions surrounding the quality and viability of SoundHound's technology. In the voice artificial intelligence (AI) market -- a market that's expected to surpass $40 billion in value by 2032 -- SoundHound faces steep competition from big tech competitors, all of which have significantly higher research and development budgets than SoundHound.Continue reading
So far this year, shares of voice-recognition specialist SoundHound AI (NASDAQ: SOUN) have seen their value plummet by more than 50%. That's a frightening decline. But when you zoom out, the decline isn't as horrible as it seems. Over the past 12 months, shares are actually up by more than 100%.
The sharp correction in SoundHound's share price, therefore, may have simply been a temporary reset. Long-term, there's a lot to get excited about, especially when it comes to the company's expected sales growth this year and beyond.
Investors have a lot of questions surrounding the quality and viability of SoundHound's technology. In the voice artificial intelligence (AI) market -- a market that's expected to surpass $40 billion in value by 2032 -- SoundHound faces steep competition from big tech competitors, all of which have significantly higher research and development budgets than SoundHound.
