Here's My Top AI Stock to Buy in September
Artificial intelligence (AI) has captured the imagination of businesses and investors alike over the past year. This spring, the hype over ChatGPT's capabilities displayed last November began translating into blockbuster revenue and profits for AI leaders such as Nvidia and others.
The stocks of industry leaders have run very far already. So which one of them is the best AI stock to buy in September?
Booming AI spending has crowded out spending on other types of tech, such as general-purpose servers. Meanwhile, consumer electronics sales of PCs and smartphones have struggled amid high interest rates and the post-pandemic hangover.
While AI sentiment has broadly boosted tech and semiconductor stocks, some AI beneficiaries with broader exposure haven't appreciated as much as AI "pure plays." And many are still well below their 2021 highs.
That includes my pick for the month of September, which trades at a cheap valuation. It not only has underrated prospects in AI, but it should also benefit more than many think from a broader industry recovery.