Cathie Wood Just Bought the Dip on This Incredible Artificial Intelligence (AI) Growth Stock. Here's Why I Think That's a Smart Move
Enthusiasm around artificial intelligence (AI) helped propel the markets higher in 2023. In particular, positive sentiment for the "Magnificent Seven" stocks played a major role in the Nasdaq Composite's sizzling 43% return last year.
With that said, savvy investors understand that many other tech enterprises are emerging as beneficiaries of the AI revolution. Data analytics firm Palantir Technologies (NYSE: PLTR) -- a Cathie Wood favorite -- soared by more than 160% last year thanks in large part to the excitement around AI.
While the S 500 has kept its hot streak alive so far this year, Palantir has not. Following a recent downgrade from a Wall Street analyst, Palantir stock fell.
Source Fool.com
