Why SoundHound AI, Nvidia, and Other Artificial Intelligence (AI) Stocks Rallied Today
There's little question that the catalyst that sparked the current bull market rally is artificial intelligence (AI). The AI gold rush that kicked off last year is gathering steam, but market watchers continue to question the resilience of this upward momentum. However, robust results from one company provided a lift for a number of AI stocks.
With that as a backdrop, audio AI specialist SoundHound AI (NASDAQ: SOUN) surged 13.6%, chipmaker Nvidia (NASDAQ: NVDA) climbed 4.9%, and social media maven Meta Platforms (NASDAQ: META) climbed 2.4%, as of 1:47 p.m. ET.
A check of all the usual suspects -- financial reports, regulatory filings, and changes to analysts' price targets -- turned up nothing in the way of catalysts to explain the move higher. This seems to suggest that it was the results of another company that drove AI stocks upward.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 13 Buy predictions and 2 Sell predictions.
As a result the target price of 530 € shows a positive potential of 27.96% compared to the current price of 414.2 € for Meta Platforms Inc..
