The upsurge in artificial intelligence (AI) stocks began in December, 2022, and since then 9 AI stocks have jumped a whopping 116.6%, on average, as of the end of May, 2023 going up a full 53.3% during the month of May alone. Another 12 that I am following are up 42.3%, on average, since the beginning of 2023 and went up 20.6% during the month of May.
An original article by Lorimer Wilson, Managing Editor of munKNEE.com – Your KEY To Making Money!
Given the aforementioned facts it is evident that many stocks in the AI category are going parabolic and, according to Wikipedia, “going parabolic” is when stocks go up very fast increasing exponentially month after month and that is exactly what the 21 AI stocks have done so far in 2023. Will the trend continue going forward or are they in a bubble that could get pricked at ant time? We will keep track of the ongoing trend and report back to you in periodic articles going forward.
Below is a list of the 9 AI stocks alluded to above with their stock performance in May, in descending order, and YTD. A follow-up article will address the other 12 AI stocks in the next few days.
- Super Micro Computer, Inc. (SMCI): UP 128.7% in May; UP 185.1% YTD
- Market Capitalization: $12B
- C3.ai, Inc. (AI): UP 124.5% in May; UP 257.6% YTD
- Market Cap: $3B
- Palantir Technologies Inc. (PLTR): UP 89.8% in May; UP 129.1% YTD
- Market Cap: $27B
- Advantest Corporation (ATEYY): UP 62.4% in May; UP 98.5% YTD
- Market Cap: $23B
- Marvell, Inc. Technology (MRVL): UP 48.2% in May; UP 57.9% YTD
- Market Cap: $42B
- NVIDIA Corporation (NVDA): UP 36.3% in May; UP 158.9% YTD
- Market Cap: $939B
- CloudStrike Holdings, Inc. (CRWD): UP 33.4% in May; UP 52.4% YTD
- Market Cap: $37B
- SentinelOne, Inc. (S): UP 33.0% in May; UP 46.5% YTD
- Market Cap: $6B
- Advanced Micro Devices, Inc. (AMD): UP 32.3% in May; UP 82.5% YTD
- Market Cap: $194B
The above 9 stocks were UP 53.3% in May and are now UP 116.6% YTD as of May 31st, 2023.
If you would prefer to invest in an ETF as opposed to an individual stock check out Global X Artificial Intelligence & Technology ETF (AIQ) which includes the above 9 stocks plus an additional 81.