Artificial intelligence (AI) has captivated the tech world over the past year, sending countless stocks soaring. However, AI is by no means a new concept. So you might be wondering why it suddenly exploded?
Although computers are excellent at numerical tasks and data processing, they have not always been capable of natural human abilities such as language, visual processing, and various generative tasks. However, AI fills this gap by using machine learning to complete tasks that typically require human intervention.
Therefore, advances in AI can potentially benefit a wide range of markets, including consumer technology, autonomous vehicles, healthcare, education, and more. And since the market and technology are still in their infancy, it seems that AI is limitless.
In fact, the AI sector is expected to grow at a compound annual growth rate of 37% through 2030, allowing it to reach a valuation close to $2 trillion. The significant market potential suggests that it is not too late to invest and take advantage of long-term AI tailwinds.
So here are three AI Actions who are screaming, buy in April.
1.Intel
It wasn’t easy being a Intel (NASDAQ:INTC) investor in recent years, with the stock down 27% since 2022. However, the company has made significant changes to its business model over the past year, which could make it an attractive long-term option for investing in AI.
Intel is expanding into the market by launching its new Gaudi 3 AI line of graphics processing units (GPUs). The chips launched earlier this month and claim to have 50% better inference and 40% better power efficiency than similar offerings from Nvidia.
Additionally, Intel is using its years of dominance and expertise in central processing units (CPUs) to secure a leading position in the AI space by expanding the AI capabilities of its processors.
It will take time for Intel to grow its AI business and catch up with competitors like Nvidia and AMD. However, the chart above indicates that Intel is potentially the most valuable AI chip stock. Intel has the lowest forward price-to-earnings (P/E) ratio among these companies, making it a relative bargain.
The company is on an exciting growth path, and too good to pass up right now.
2. Apple
Apple (NASDAQ:AAPL) has been quieter on the AI front than many of its peers. However, the company is known for taking its time with new technologies. Apple is not necessarily known for pioneering innovations, but for perfecting established technology with its own design language and then becoming dominant in the industry by attracting billions of users.
Markets like Bluetooth headphones, smartwatches, and tablets were each run by different companies before Apple appeared on the scene. However, the launch of products like AirPods, Apple Watch and iPad have made its competitors almost a distant memory. As a result, it’s not too concerning that Apple isn’t currently one of the best in AI.
The tech giant seems…
