Key Points
Wall Street’s enthusiasm for artificial intelligence (AI) continues to grow, with significant investments in AI technology poised to offer attractive opportunities. Tech giants Meta Platforms and Apple are among those leveraging AI to enhance their business operations.
Meta Platforms (NASDAQ: META) reported strong revenue growth attributed to its AI-driven algorithms, despite a recent dip in share prices following its third-quarter earnings release. The company boasts a user base of over 3.5 billion active users, with investments aimed at monetizing additional opportunities beyond advertising.
Meanwhile, Apple (NASDAQ: AAPL) is projecting double-digit revenue growth thanks to the success of its new iPhone 17, which includes various AI features. The company has over 2 billion devices in circulation, providing vast monetization potential through its service offerings. In contrast, Recursion Pharmaceuticals (NASDAQ: RXRX) aims to optimize drug development using AI but currently lacks market products and faces significant competition, highlighting its higher risk profile.
