1 Artificial Intelligence (AI) Growth Stock to Buy Hand Over Fist in November and 1 You Should Steer Clear Of
Last year saw the worst stock market performance since 2008, but it appears we may have finally turned a corner. The S&P 500 has already notched gains of as much as 28% since hitting its bear market low in Oct. 2022. That means the only thing needed to kick off the next bull market is a new all-time high for the index -- or a 14% gain from where the S&P 500 stands as of this writing.
Helping drive the upswing are recent advances in generative artificial intelligence (AI) and the vast productivity gains it promises. With that said, it's hard to pin down exactly what the market might be worth. An estimate from Cathie Wood's Ark Investment Management values the AI opportunity at $14 trillion by 2030. More conservative estimates from Morgan Stanley and Goldman Sachs estimate the market opportunity will reach $6 trillion to $7 trillion by the end of the decade.
While we don't know exactly how much the market will be worth, one thing is clear: Businesses are scrambling to stake their claim in the AI revolution. What's equally clear is that while some AI stocks will profit from the boom, others are more likely to go bust.
Source Fool.com
