In an era when data reigns supreme, few sectors shine as brightly as that of machine learning. Leading machine learning stocks are carving out a notable niche for tech-savvy investors. These aren’t merely fleeting trends or temporary boosts. The high-potential stocks we’re about to discuss represent the nexus of innovation and opportunity.
While “must-buy machine learning stocks” might pepper recent financial headlines, discerning traders also should watch machine learning stocks to buy on dips. After all, market turbulence often spells opportunity.
Let’s explore the top machine-learning stocks poised to redefine the next decade of tech investments. The road ahead is rife with promise and, if navigated correctly, can lead to impressive gains.
Nvidia (NVDA)
The tech juggernaut Nvidia (NASDAQ:NVDA) has defied market expectations with a year-to-date return of 182%. Very few stocks boast this kind of kind of return. And there’s a good reason for that. Nvidia’s chips power everything from the metaverse to high-performance computing in our evolving world.
This isn’t just about numbers, though. Taking the lead in artificial intelligence (AI) innovations, Nvidia’s recent endeavors include a partnership with the AI platform Hugging Face. Furthermore, the company’s cutting-edge AI Workbench is making waves, especially with its application in generative AI, positioning Nvidia as one of the top machine learning stocks.
Recent headlines also shed light on startups leveraging Nvidia’s NeMo software. This further underscores the firm’s influence in the machine learning sector, making it a tempting pick, especially during market dips.
In conclusion, while market fluctuations are inevitable, Nvidia’s steadfast innovation and strategic partnerships in the machine learning sphere will ensure it remains a frontrunner. Nvidia is undoubtedly one to watch for investors with an appetite for machine learning stocks.
Accenture (ACN)
Accenture (NYSE:ACN) has delivered impressive returns this year. With a year-to-date surge of roughly 16%, it’s rapidly becoming a must-buy machine learning stock in many investors’ books.
Recent third-quarter fiscal 2023 earnings solidified this sentiment. A stellar revenue of $16.56 billion, up 2.5% year-on-year, coupled with a net income of $2.01 billion — 13% growth — showcases their operational strength. Furthermore, the diluted earnings per share (EPS) stand tall with a growth of 13%, beating expectations by 5%.
Accenture’s proactive strides in AI and machine learning have been grabbing headlines. The acquisition of Nextira, an AWS Premier Partner, is a testament to Accenture’s commitment to ramping up its AI and machine learning capabilities.
This move is in tandem with the company’s substantial $3 billion investment in Data & AI, aiming to drive innovation and growth. Recent news highlights the synergy between Nvidia and Accenture in launching AI Lighthouse, leveraging Nvidia’s AI supercomputing prowess. It’s clear that Accenture is not just riding the AI wave but is setting the pace for others to follow.
In the evolving machine learning landscape, Accenture’s aggressive expansion and collaborations poise it as a top machine learning stock to watch and perhaps even snag on the dips. For investors keen on high-potential machine learning stocks, Accenture is lighting the way for a transformative AI-driven future.
Microsoft (MSFT)
Microsoft (NASDAQ:MSFT) is already a titan in the tech world. However, it is increasingly staking its claim as one of the top machine learning stocks. Its year-to-date return is an impressive 34%, showcasing the brand’s resilience and growth potential.
Its fiscal 2023 Q4 earnings underscore this sentiment, revealing revenue of $56.19 billion, up by a commendable 8%. More notably, the net income stood at an astounding $20.08 billion, reflecting a year-over-year growth of 20%. Not just this, the tech giant has displayed a robust net profit margin, soaring by almost 11% to stand at 35.74%. Interestingly, diluted EPS for June 2023 beat expectations by nearly 6%, reaffirming Microsoft’s financial prowess.
Thanks to its broader strategic moves, Microsoft continues innovating in artificial intelligence. For instance, integrating Bing’s AI chat across different browsers is a notable development, underlining Microsoft’s mission to democratize AI.
Moreover, the formation of the Frontier Model Forum only fortifies Microsoft’s status as a leading machine learning stock. Adding another feather to its cap, the company’s collaboration with Nvidia to intertwine the AI Enterprise Suite with Azure Machine Learning is turning heads. This collaboration aims to intertwine the AI Enterprise Suite with Azure Machine Learning, fostering enterprise-level machine learning solutions.
Microsoft’s consistent performance and innovative initiatives make it a compelling consideration for investors looking for high-potential ML stocks. While the landscape of tech stocks remains dynamic, Microsoft emerges as a machine learning stock to buy on dips.
On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
