| Stock | Price | 52 Week Range | Marketcap | EPS | Dividend Yield | Chart (24H) | Sector | Employees | Last Updated |
|---|---|---|---|---|---|---|---|---|---|
 Amazon.com, Inc. AMZN | $213.23 | 2.26T | 6.14 | 0.00% | Consumer Cyclical | 1,551,000 | 3 seconds ago | ||
 Alphabet Inc. GOOGL | $176.52 | 2.15T | 8.96 | 0.48% | Communication Services | 181,269 | 2 seconds ago | ||
| $138.89 | 327.77B | 0.23 | 0.00% | Technology | 3,892 | 1 second ago |
Have you ever felt that tug – the one telling you there’s something monumental on the horizon? That’s how we feel about Artificial Intelligence (AI). It’s not just another tech buzzword; it’s the next industrial revolution. For our astute readers, the future is now. Dive in with us as we reveal the three best AI stocks you need to buy this July 2024. These aren’t just companies dabbling in AI; they are the leaders, the innovators, and the game-changers in a massively growing sector still in its infancy.
Editor's Note: Analysis and insight for this article were originally sourced from our friends at InvestorPlace
Amazon (AMZN) – Transforming Retail with Groundbreaking AI
Integration of AI Technology: Amazon’s strategy goes beyond selling books; it’s about streamlining and revolutionizing retail. Imagine this: an AI tool that simplifies the product listing process for retailers. And then there’s Amazon One, an AI-driven payment mechanism capable of identifying individuals and allowing payments via palm scans. This isn’t just innovative; it’s transformative.
Well-Established AI Products: Ever had a chat with Alexa? That little voice assistant is powered by some of the most sophisticated AI technology available. Alexa doesn’t just answer questions; she performs complex tasks, giving us a glimpse into Amazon’s AI capabilities. This isn’t beginner’s luck; this is years of meticulous innovation.
Robust Financial Performance: Numbers don’t lie. In the latest quarter, Amazon reported a staggering $143.4 billion in net sales. That’s paired with an operational income of $15.3 billion. Amazon is not just powering ahead in AI; it’s doing so with superior financial health. This blend of cutting-edge technology and financial stability makes Amazon a no-brainer for your AI-focused portfolio.
Analyst Ratings for Amazon (AMZN)
| Consensus Rating | Average Price Target | Current Price | Potential Gain | Number of Ratings |
|---|---|---|---|---|
| Strong Buy | $221.68 | $193.25 | 14.71% | 42 |
Summary of Analysts’ Outlook for AMZN
- Consensus Rating: The consensus rating for Amazon stock is Strong Buy.
- Average Price Target: The average price target for the next 12 months is $221.68, representing a potential gain of 14.71% from the current price of $193.25.
- Upbeat Earnings Performance: Amazon has a strong track record of beating its earnings estimates, with a 100% beat rate in the last 12 months, compared to 61.14% in its industry.
- Recent Financial Performance: In the last 12 months, Amazon has outperformed its overall industry.
Alphabet (GOOGL) – Pioneering Future with Cutting-Edge AI
AI-Focused Innovations: Alphabet is not resting on its laurels. Every time you use Google Search or Google Docs, you’re tapping into intricate AI systems. Beyond that, their cloud services are AI-driven, transforming business operations globally. Alphabet’s commitment to AI isn’t just skin-deep; it’s a strategic focus.
Pioneering AI Research: What if AI could make nuclear energy safer and more efficient? Alphabet is on it. Their contributions to AI in nuclear energy highlight an ambition to solve massive global challenges. This unparalleled commitment to advancing AI for good positions Alphabet not just as a tech giant, but a pioneer in sustainable solutions.
Sound Financial Health: With a 15% year-over-year increase in sales and $16.8 billion in free cash flow, Alphabet’s financials are as stellar as its tech advancements. For investors, this means security and immense upside potential. Alphabet’s AI initiatives paired with strong financial performance spell out a promising investment.
Analyst Ratings for Alphabet (GOOGL)
| Consensus Rating | Average Price Target | Current Price | Potential Gain | Number of Ratings |
|---|---|---|---|---|
| Strong Buy | $199.25 | $182.15 | 9.39% | 38 |
Summary of Analysts’ Outlook for GOOGL
- Consensus Rating: Analysts are generally optimistic about Alphabet Inc. (GOOGL). The consensus rating is Strong Buy, based on 32 buy ratings, 6 hold ratings, and 0 sell ratings.
- Average Price Target: The average price target of $199.25 suggests a potential gain of 9.39% from the current price of $182.15.
- Potential Range: This outlook is supported by the highest analyst price target of $225.00 and the lowest forecast of $168.00.
Palantir Technologies (PLTR) – Dominating Big Data with AI
AI Solutions in Big Data Analytics: Palantir isn’t just riding the AI wave; it’s creating it. Their Foundry Ontology system redefines how businesses structure data, and the Palantir Artificial Intelligence Platform (AIP) serves as a powerful tool for AI development. This dual advantage positions Palantir far ahead in the AI-centric big data segment.
Strategic Government Contracts: When governments trust you to build AI-powered military technology, you know you’re doing something right. Palantir’s development of the U.S. government’s first AI-powered military vehicle is a testament to its cutting-edge capabilities and trusted track record.
Financially Strong: Palantir’s recent earnings report is impressive, boasting $634 million in revenue and a 21% year-over-year growth. They have shown consistent profitability over six consecutive quarters, making Palantir not just a tech-savvy company but a financially sound investment.
Analyst Ratings for Palantir Technologies (PLTR)
| Consensus Rating | Average Price Target | Current Price | Potential Gain | Number of Ratings |
|---|---|---|---|---|
| Hold | $22.55 | $25.83 | -10.98% | 13 |
Summary of Analysts’ Outlook for PLTR
- Consensus Rating: Most analysts currently recommend holding Palantir Technologies Inc. (PLTR), based on a mix of buy, hold, and sell ratings.
- Average Price Target: The average price target for Palantir Technologies Inc. (PLTR) is $22.55, which represents a potential decrease of 10.98% from its current price of $25.83.
- Potential Gain: The stock is forecast to decline, but the extent of the potential decline varies depending on the specific analyst’s estimate. The highest price target is $35.00, and the lowest is $9.00, indicating a significant range of opinions.
In the rapidly evolving AI landscape, these three juggernauts – Amazon, Alphabet, and Palantir – are poised to lead the charge. Combining innovative AI applications with strong financial health, they are invaluable additions to any forward-thinking portfolio. Get in now and ride the next wave of technological revolution.
