If you’re looking for high-growth stocks to invest in, the technology sector is a great place to start. Artificial intelligence (AI) stocks in particular can be an exceptional addition to any growth portfolio as this innovative technology continues to expand and reach unprecedented heights. But the fact that AI is an exciting investment right now doesn’t automatically mean that every AI stock on the market is a good growth option for investors. Therefore, it is important for investors to carefully choose AI stocks that can actually deliver on their growth promises, rather than those that cannot.
Look at the 5 fastest growing AI stocks to invest in now.
5. Synopsys, Inc. (NASDAQ:SNPS)
- Number of hedge fund holders: 66
- 5-year price performance: 398.6D
The company Synopsys, Inc. (NASDAQ:SNPS) develops application software. It sells software for electronic design automation.
As of January 17, Stifel analysts still have a Buy rating and a $620 price target on Synopsys, Inc. (NASDAQ:SNPS).
66 hedge funds held a $3.2 billion total investment in Synopsys, Inc. (NASDAQ:SNPS) at the conclusion of the fourth quarter.
4. Celestica Inc. (NYSE:CLS)
- Number of hedge fund holders: 38
- 5-year price performance: 418.5%
In the fourth quarter, Celestica Inc. (NYSE:CLS) had 38 hedge funds long its stock, totaling $677.9 million in stake value.
Celestica Inc. (NYSE:CLS) was covered by Cormar Securities on March 11 with a Buy rating and a $56 price target.
Data center hardware, cutting-edge technology solutions, connectivity, and cloud solutions are all offered by Celestica Inc. (NYSE:CLS). Due to the ongoing increase in demand for data center hardware in the AI field, the company benefits from the AI boom.
3. Tesla, Inc. (NASDAQ:TSLA)
- Number of hedge fund holders: 82
- 5-year stock price performance: 827.3D
Austin, Texas-based Tesla, Inc. (NASDAQ:TSLA) is a producer of electric vehicles. It offers self-driving trucks, cars, and other vehicles powered by AI.
As of March 13, Wedbush analysts still have an Outperform rating and $315 price target on Tesla, Inc. (NASDAQ:TSLA).
In the fourth quarter, 82 hedge funds with a total position value of $6.3 billion were observed to be long Tesla, Inc. (NASDAQ:TSLA).
2. NVIDIA Corporation (NASDAQ:NVDA)
- Number of hedge fund holders: 173
- 5-year price performance: 1,879.2%
As of March 13, Bank of America Securities maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) with a $1100 price target.
NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor corporation headquartered in Santa Clara, California. It provides a range of semiconductor devices and AI chips.
In the fourth quarter, 173 hedge funds were observed holding shares of NVIDIA Corporation (NASDAQ:NVDA), with a total value of $33.8 billion.
1. Super Micro Computer, Inc. (NASDAQ:SMCI)
- Number of hedge fund holders: 40
- 5-year price performance: 5,088.5D
The information technology company Super Micro Computer, Inc. (NASDAQ:SMCI) was founded. It provides edge AI servers, AI GPU servers, and business AI solutions.
In the fourth quarter, 40 hedge funds with a combined position value of $642.9 million were long Super Micro Computer, Inc. (NASDAQ:SMCI).
As of March 13, Super Micro Computer, Inc. (NASDAQ:SMCI) analysts at Bank of America Securities are still rating the company as Buy and setting a price objective of $1280.
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