3 AI Players Beyond Nvidia Poised for Takeoff After Strong Earnings
In recent days, Nvidia (NASDAQ:NVDA) stock has retreated after hitting a new all-time high of $974 last Friday.
The looming $1,000 resistance could be the next big hurdle for the bulls. For investors eyeing the AI boom, exploring tactically astute opportunities might be wise.
Investing in AI offers numerous avenues. While computer chipmakers like Nvidia are popular choices, there are other angles worth exploring.
In this article, we'll therefore review 3 AI stocks that are less high-profile than Nvidia and that recently reported strong quarterly results, and which at least deserve their place on investors' radar, if not immediately displaying an ideal profile for buying.
We'll use the InvestingPro analysis and strategy platform to review the latest results, profile each stock using ProTips, and assess potential using InvestingPro models and analyst forecasts.
Oracle Corporation (NYSE:ORCL) is the last stock on today's list to report earnings, having unveiled its quarterly update on Monday, March 11.
It reported EPS of $1.41, ahead of expectations by 2.4%, and sales of $13.28 billion, very slightly below expectations, which didn't prevent the stock from taking off by 13.45% against the publication.
Source: InvestingPro
ProTips, which summarizes the masses of financial data available for each stock in an intelligible list of strengths and weaknesses, InvestingPro found 10 positive ProTips, 5 negative, and 1 neutral.
Source: InvestingPro
Positives include a strong performance over the past three months, the fact that analysts expect the company to be profitable this year, and the fact that it has been profitable over the past 12 months.
On the negative side, ProTips notes that the stock has high valuation multiples by
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