Wall Street Analyst Dan Ives Sees a "Tidal Wave" of Growth and $1 Trillion in Incremental IT Spending Unleashed by AI. His 4 Favorite Stocks to Reap the Rewards.
On the heels of the worst market performance in more than a decade, the major market indexes have come roaring back so far this year -- and it's only half over. Helping fuel Wall Street's bullish attitude is investor excitement about the latest advances in artificial intelligence (AI). Investors are only just beginning to understand the far-reaching implications of this next-generation technology, which has the potential to drive growth and innovation for much of the coming decade.
These developments have started an "AI gold rush," according to Wedbush analyst Dan Ives. The analyst recently spoke to CNBC and in the interview, he argues that the accelerating adoption of AI is still underappreciated by most investors and could drive a "tidal wave" of growth in the coming months and years. While many companies will profit from the disruption caused by AI, Ives highlighted four of his favorite AI-related stocks to buy now.
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