2 Top Artificial Intelligence (AI) Stocks Ready for a Bull Run
Over the past year, investors have taken a keen interest in companies that can benefit from the proliferation of artificial intelligence (AI), which is not surprising as this technology is expected to help improve the global gross domestic product (GDP) by 7%, or almost $7 trillion, over the next decade, as per Goldman Sachs.
Companies that are already benefiting from AI adoption have seen their shares surge big time. But there are a few companies whose share prices are yet to hit a higher gear even though they could win big from AI proliferation. Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, and SoundHound AI (NASDAQ: SOUN) are two such names.
TSMC stock's 40% jump in the past year means that it has underperformed the PHLX Semiconductor Sector index's gains of 50%. Meanwhile, SoundHound AI stock is down 5% in the past year even though it has been reporting solid growth thanks to the growing demand for its offerings. The good news is that both stocks have gained impressive momentum of late and look all set to go on a bull run. Here's why.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
With 17 Buy predictions and not the single Sell prediction the community is currently very high on Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
As a result the target price of 150 € shows a slightly positive potential of 16.46% compared to the current price of 128.8 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
