AI Stocks To Buy In October 2023? 2 To Know

The Artificial Intelligence sector represents one of the most transformative waves in the technological landscape. This field, which involves the creation of machines that can think, learn, and act like humans, has vast applications, ranging from healthcare and finance to entertainment and transportation. Companies within this sector are working relentlessly to innovate, seeking to automate tasks, enhance data analysis, or even mimic human cognition, thereby pushing the boundaries of what machines can achieve.

Investing in AI stocks means buying shares of companies that are at the forefront of this technological revolution. These companies might be developing cutting-edge software, designing innovative chips, or providing cloud solutions that support AI functionalities. As AI continues to integrate into our daily lives and businesses, stocks associated with this technology have garnered significant attention from investors looking to tap into its potential growth.

However, like any investment, diving into AI stocks requires a calculated approach. The AI industry, although promising, is still evolving, which means it comes with its share of uncertainties. Potential investors should not only look at the current profitability of these companies but also consider their research and development initiatives, strategic partnerships, and adaptability to change. As with all sectors, it’s essential to strike a balance between potential rewards and inherent risks, keeping a close eye on industry trends and emerging players. That said, here are two AI stocks to check out in the stock market right now.

AI Stocks To Watch In The Stock Market Today

• Meta Platforms Inc. (NASDAQ: META)
• Microsoft Corporation (NASDAQ: MSFT)

Meta Platforms (META Stock)

Leading off, Meta Platforms Inc. (META), formerly known as Facebook Inc., is a global technology company that focuses on building a range of digital communication tools and platforms. Their offerings include the flagship Facebook platform, Instagram, WhatsApp, Oculus, and a suite of augmented and virtual reality technologies.

At the end of July, Meta Platforms announced better-than-expected second-quarter 2023 financial results. Specifically, the company reported earnings of $3.23 per share, along with revenue of $32.00 billion for Q2 2023. This is compared to Wall Street’s consensus estimates which were earnings of $2.87 per share, and revenue of $31.06 billion. Moreover, revenue increased by 11.02% versus the same period, the previous year.

In the last month of trading, shares of META stock are up 4.05%. Additionally, during Friday morning’s trading session, META stock opened higher by 2.04% so far at $310.16 per share.

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Microsoft Corp (MSFT Stock)

Next, Microsoft Corporation (MSFT) is a multinational technology firm with a diverse portfolio of software, hardware, and services. Best known for its Windows operating system and Office productivity suite, Microsoft also has significant footprints in cloud computing with Azure, gaming with Xbox and enterprise solutions.

Earlier this month, Microsoft announced that its board of directors has approved a 10% increase in its quarterly dividend, setting it at $0.75 per share. This is a $0.07 cent rise from the prior quarter. This dividend will be paid out to shareholders on record as of November 16, 2023, with the payment date set for December 14, 2023.

Looking at the last month of trading activity, shares of MSFT stock have pulled back by 2.93%. Moreover, during Friday morning’s trading session, Microsoft’s stock price is trading higher off the open by 1.63% at $318.74 per share.

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The post AI Stocks To Buy In October 2023? 2 To Know appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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