3 Top Artificial Intelligence Stocks to Watch in October
The evolution of artificial intelligence (AI) is one of the most important trends to watch for tech investors. More companies are jumping into the space every day, and while stock pickers still have to exercise caution and shouldn’t embrace a business just because it touts an AI connection, the players that cement leading roles in this computing shift could enjoy forefront positions in the overall technology space for decades to come.
Pure sales and earnings contributions aren’t always front and center in earnings reports, but AI is already a big part of the growth story at many top technology companies. Investors looking to get a jump on big news in the artificial intelligence space this month might want to pay attention to Microsoft (NASDAQ:MSFT), Xilinx (NASDAQ:XLNX), and Amazon (NASDAQ:AMZN) — three AI leaders that are expected to report earnings before October draws to a close.
1. Microsoft
Microsoft has been one of the market’s biggest large-cap winners in recent years, climbing roughly 200% over the last half-decade and quadrupling the S&P 500 index’s rise over the stretch. With a market capitalization of roughly $1 trillion, it’s the biggest company in the U.S. — and the software giant’s tremendous size and industry-shaping initiatives in AI and cloud computing make it a stock for market watchers to keep an eye on.
Microsoft is scheduled to report first-quarter earnings on Oct. 23 and is fresh off a deal with Novartis that will see AI resources used to create new drug treatments. Investors may get a closer look at the deal as well as other AI-related projects with the earnings release and conference call.
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