Best Cheap AI Stocks in 2023 Revealed!

The field of artificial intelligence has long been seen as a desirable component of the technology sector, Let’s find out the best cheap AI stocks to purchase in 2023. This has affected the global economy. The industry has broad applications in several fields, including interactive media and entertainment, cybersecurity, and many more.

The AI sector is consequently very diverse and massively large, predicted to be worth roughly US$119.78 billion in 2022. The influence of AI and machine learning (ML) on many corporate activities is likely the most fantastic explanation for this market size.

Best Cheap AI Stocks Buy in 2023

Palantir Technologies Inc. (NYSE: PLTR)

  • Holders of Hedge Funds: 28
  • Potential for Growth as of March 31: 5.4%
  • $8.59 is the average analyst price estimate.

A Denver, Colorado-based provider of application software, Palantir Technologies Inc. (NYSE: PLTR). For the intelligence community to aid in counterterrorism investigations, the business develops and implements software systems. Gil Luria of DA Davidson began covering Palantir Technologies Inc. (NYSE: PLTR) shares on March 1 with a Neutral rating. Wall Street analysts have given Palantir Technologies Inc. (NYSE: PLTR) shares an average price target of $8.59, with a high goal of $15.

This offers the company an upside potential of 5.4% given that the shares were priced at $8.15 on March 31. Palantir Technologies Inc.’s fourth quarter ended on December 31. (NYSE: PLTR) concluded 55 transactions totaling at least $1 million, with 11 of these transactions having a value greater than $5 million. Analysts claim that the stock is now trading below its intrinsic value due to the prospect of enhanced profitability in 2023.

Micron (NASDAQ: MU)

  • Number of Hedge Fund Holders: 74
  • Upside Potential as of March 31: 8.75%
  • Average Analyst Price Estimate: $68.61

An information technology business called Micron (NASDAQ: MU) manufactures high-performance memory storage devices. The firm is a key player in the AI industry because of the hardware that enables AI solutions. Mehdi Hosseini at Susquehanna has a Positive rating and a $90 price target on Micron (NASDAQ: MU) shares as of March 29.

Dynamic Random Access Memory( DRAM), a necessary element for PCs and data centres, is presently supplied by Micron in third place. As of March 29, the shares were trading at a P/ E rate of 10.6, which is 23 less precious than the five-time normal. The average price ideal set by Wall Street judges for Micron( NASDAQ MU) shares is $ 68.61, with a high thing set at $ 100.

Oracle Corporation (NASDAQ: ORCL)

  • Number of Hedge Fund Holders: 65
  • Upside Potential as of March 31: 9.25%
  • Average Analyst Price Estimate: $98.88

Systems software provider Oracle Corporation( NASDAQ ORCL) is headquartered in Austin, Texas. It provides a range of services, including pall-grounded business results and software operations. As of March 24, Mark Murphy of JPMorgan has a fat standing and a$ 93 price target on Oracle Corporation( NASDAQ ORCL) shares.

Earnings for Oracle Corporation( NASDAQ ORCL)’s third quarter of financial 2023 totaled $ 12.4 billion, up 17.93 from the same period last time. The shares were 6 less precious than the five-time normal in March when they were dealing at a price-to-deals rate of 4.77. Oracle Corporation (NASDAQ ORCL) shares currently have an average price target of $98.88 from Wall Street judges, with a high goal of $ 120.

Accenture plc (NYSE: ACN)

  • Number of Hedge Fund Holders: 63
  • Upside Potential as of March 31: 10.56%
  • Average Analyst Price Estimate: $312.5

Data management, intelligent automation, and robotic process automation are just many of the operations services offered by Accenture plc( NYSE ACN), a provider of information technology services. Its headquarters are in Dublin, Ireland. As of March 24, Tien- ts in Huang, a critic at JPMorgan, has an Overweight standing and a $ 314 price target on Accenture plc (NYSE ACN) shares.

Wall Street analysts have a $312.5 average price target on Accenture plc (NYSE ACN) shares, with a$ 360 high target. The company’s deals in the first quarter of financial 2023 increased by 5 year over year to$15.75 billion. On March 17, Accenture plc (NYSE ACN) shares were dealing for a P/ E rate of 22, which is 19 less precious than the five-time normal. With a total stake worth of $2.8 billion, 63 hedge funds had Accenture plc (NYSE ACN) as one of its 13F effects in the fourth quarter.

SAP SE (NYSE: SAP)

  • Number of Hedge Fund Holders: 18
  • Upside Potential as of March 31: 10.6%
  • Average Analyst Price Estimate: $139.43

Application software provider SAP SE (NYSE: SAP) has its headquarters in Walldorf, Germany. The business sells corporate application software. On March 21, Bernstein’s Mark Moerdler reiterated his firm’s previous Outperform recommendation on SAP SE (NYSE: SAP) shares.

The analyst set a $154 price objective on the stock. With an EV/Sales (TTM) ratio of 4.6, SAP SE (NYSE: SAP) is now trading below its inherent value. The shares currently have an average price objective of $139.43 from Wall Street analysts. On March 31, SAP SE (NYSE: SAP) was trading at $126.07, thus this indicates a potential upside of 10.6%.

International Business Machines Corporation (NYSE: IBM)

  • Number of Hedge Fund Holders: 43
  • Upside Potential as of March 31: 11.1%
  • Average Analyst Price Estimate: $143.5

The Armonk, New York-based International Business Machines Corporation (NYSE: IBM) is a provider of information technology. The business offers integrated services and solutions, such as software and hybrid cloud platforms. As of January 23, David Grossman at Stifel has a Buy rating and a $158 price target on shares of International Business Machines Corporation (NYSE: IBM).

International Business Machines Corporation (NYSE: IBM) stock has an average price target of $143.5 set by Wall Street analysts, with a high goal of $160. The business generated $16.6 billion in sales in the fourth quarter, with its software activities accounting for 43.6% of that total. In that quarter, its software revenues climbed by 2.8% year over year to $7.3 billion.

ASML Holding N.V. (NASDAQ: ASML)

  • Number of Hedge Fund Holders: 59
  • Upside Potential as of March 31: 19.66%
  • Average Analyst Price Estimate: $809.73

Among other innovative semiconductor equipment systems, ASML Holding N.V. (NASDAQ: ASML) sells them. The creation of AI chips requires lithography equipment, which makes this business an essential player in the AI industry. Adithya Metuku of Credit Suisse reissued an Outperform rating on ASML Holding N.V. (NASDAQ: ASML) shares on January 26.

With over 80% of the market share in the lithography sector, ASML Holding N.V. (NASDAQ: ASML) presently rules the market. Considering that the shares were trading at $676.68 on March 31, analysts have set an average price objective of $809.73 for them. The stock’s potential upside is thus 19.66%.

7 best-performing AI stocks

TickerCompanyPerformance (Year)
SYMSymbotic Inc.216.20%
UPSTUpstart Holdings, Inc.191.94%
NVDANVIDIA Corporation157.07%
AIC3.ai, Inc.142.46%
HLXHelix Energy Solutions Group, Inc.136.55%
PROPROS Holdings, Inc.57.78%
DTDynatrace, Inc.46.82%

Conclusion

In this article, we talk about which are the Best Cheap AI Stock Invest. Will find the US AI market to be an appealing investment opportunity given the industry’s anticipated rapid expansion in the years to come. Even if the finest AI stocks in the US have typically performed well, it is important to take various variables into account before investing in stocks that are connected to AI.

Investors need to think about the company’s regulatory environment, growth prospects, managerial calibre, and financial stability. Understanding the many subsectors of the AI market is also crucial, as is investing in businesses that have a firm hold on those subsectors. Overall, for investors who do their research and make sensible investments, investing in the best cheap AI stocks in the US may be rewarding.

FAQs

What AI stocks are the cheapest?

Without a broker, you can acquire shares through direct stock purchase plans (DSPs), which are frequently a more affordable choice. Choose the company’s dividend reinvestment programme (DRIP) if you purchase equities that pay dividends instead of giving in to the impulse to cash them in.

Which AI penny stock is the best one to buy?

● VRSSF — VERSES AI Inc. OTCQX…
● NASDAQ: AAOI — Applied Optoelectronics Inc. NASDAQ: GSIT — GSI Technology, Inc. NASDAQ: AMST — Amesite Inc. NASDAQ: INOD — Innodata Inc.
● The AI Cloud Services Penny Stock on the NASDAQ is APLD, or Applied Digital Corp.
● SoundHound AI, Inc.’s NASDAQ symbol is SOUN.

Are AI stock investments beneficial?

AI stocks have been one of the hottest investing trends on Wall Street in 2023. Since the OpenAI chatbot ChatGPT caught the globe by storm, investors and experts have begun to recognise the long-term value potential of artificial intelligence.

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