Prediction: This Top Artificial Intelligence (AI) Stock Will Double in 3 Years
Celestica stock seems poised to deliver terrific gains, driven by accelerating growth.
Overview
Artificial intelligence (AI) stocks have taken a hammering lately, as investors have been rotating out of this sector due to multiple concerns, such as circular financing, competition from China, and the viability of the enormous sums being spent on AI data center infrastructure.
The Global X Artificial Intelligence & Technology ETF, an exchange-traded fund that invests in companies benefiting from the proliferation of AI by integrating this technology into their operations, along with companies selling AI-related hardware and software, has shed 8% of its value over the past month.
Details
However, AI hardware specialists continue to clock impressive growth, suggesting that the recent downturn in this sector may not be long-lasting. Celestica (NYSE: CLS) is the latest company to report solid results and raise its annual guidance, following impressive reports from companies such as ASML and Taiwan Semiconductor Manufacturing in July.
Source
Originally published at www.fool.com.