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Last updated: Aug 2023
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4 mins

Best AI Stocks to Watch for UAE Traders in 2023

Artificial Intelligence (AI) is undeniably one of the most transformative tech evolutions of our times. As 2023 progresses, investing in AI stocks is becoming increasingly prevalent, especially among UAE residents. This article will guide you through the top AI stocks to watch this year, focusing on the potential of these companies and how UAE residents can invest through brokers like Amana and XTB.

What are the Best AI Stocks to Buy?

1. Symbotic (SYM)

Symbotic is an automation technology company that operates an AI-powered product movement technology platform. With a market cap of $31.5 billion and a year-to-date (YTD) performance of 371%, Symbotic is a promising AI stock to consider. The company's impressive 177% year-over-year revenue growth and partnerships with industry giants like Walmart make it a compelling choice.

2. (AI) is an enterprise software vendor that provides a platform for building large-scale AI systems. Despite a market cap of $5.1 billion and a YTD performance of 301%, investors should exercise caution due to the company's modest revenue growth and projected losses.

3. Nvidia (NVDA)

Nvidia, a semiconductor company with a market cap of $1.1 trillion and a YTD performance of 226%, is a top contender in the AI industry. The company's high-end AI chips are in high demand, and its impressive growth in the automotive division makes it a promising AI stock.

4. MicroStrategy (MSTR)

MicroStrategy, a company that designs and sells enterprise analytics and mobility software, is another AI stock to watch. With a market cap of $5.6 billion and a YTD performance of 201%, MicroStrategy is investing in enhancing the AI capabilities of its platform.

5. Meta Platforms (META)

Meta Platforms, the company behind Facebook, Instagram, and WhatsApp, is heavily investing in AI initiatives. With a market cap of $827 billion and a YTD performance of 159%, Meta's global social media user base and AI technology integration make it a potential AI stock for investment.

Which Stocks Will Perform Best in 2023?

While it's challenging to predict with certainty, Symbotic,, Nvidia, MicroStrategy, and Meta Platforms are poised to perform well in 2023 based on their current performance and future potential.

Which is the Most Promising AI Company?

Nvidia stands out as the most promising AI company due to its exposure to several massive long-term growth trends, including cloud computing, AI technology, the Internet of Things, the metaverse, and online gaming.

What are the Top 3 AI Stocks to Buy Now?

Based on current performance and future potential, the top three AI stocks to buy now are Nvidia, Symbotic, and Meta Platforms.

Investing in AI stocks offers a promising avenue for potential high returns. However, it's crucial to conduct thorough research and consider getting advice from financial advisors. Brokers like Amana and XTB would be our recommended choice to make your trades through.
Please note that this article is for informational purposes only and should not be considered as financial advice. Always do your own research and consider your financial condition before investing. Do not invest more than you can afford to lose.
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