1 Artificial Intelligence Growth Stock to Buy Now With More Upside Than Nvidia, According to Wall Street
Artificial intelligence (AI) has taken the world by storm this year. The most obvious winner of this paradigm shift has been Nvidia (NASDAQ: NVDA). The company's graphic processing units (GPUs), which are the gold standard for improving video game performance, were found to be equally effective in speeding up data processing and number crunching in complex applications. This made them a perfect choice for use in cloud computing, data centers, and, most recently, AI.
In its fiscal 2024 second quarter, which ended July 30, the company generated record revenue of $13.5 billion, up 101% year over year, while earnings per share soared 854% to $2.48. Those results have investors and analysts alike positively giddy about Nvidia's prospects. The stock has already surged 189% so far this year, but analysts' consensus price target of $624 on Nvidia implies an upside of 48% from its current price in the next 12 months.
Yet there's another AI stock that the analysts think has even more upside potential than Nvidia: online retailer (NASDAQ: ETSY). That stock has a 12-month price target of $108 -- implying an upside of 66%. Here's what has analysts so bullish about Etsy's future.
Source Fool.com
