Artificial Intelligence (AI) has emerged as a powerful force in the stock market, driving unparalleled growth and capturing the attention of investors worldwide. In the year 2023, AI stands as one of the desired trends, with several companies within the industry experiencing remarkable expansion. This surge brings the challenge of finding AI stocks that are both promising and affordable, particularly under or even . (https://expo.aspe.org/)
In this article, we’ll examine the factors that led to AI taking control of the stock market and highlight some of the best artificial intelligence stocks under $10, But before we get into the details, here is a quick review of the path that brought us to this point.
History of Market Trends:
Every year, a brand-new investing concept that appeals to all investors emerges on the stock market. The IT industry grew dramatically in 2019, with considerable gains made by businesses like AMD Micro Devices Inc. and Lam Research Corp.
The rise of the blockchain was evident in 2020, when several businesses added “Bit” or “blockchain” to their names, generating significant development In 2021, meme stocks such as GameStop Corp. commanded headlines, while 2022 was dominated by concerns about inflation.
Now, in 2023, the spotlight is on artificial intelligence. Leading the charge is NVIDIA Corp.(NVDA:NSD)the consensus leader in the AI stock sector. The introduction of ChatGPT increased interest in AI, inspiring a number of businesses to incorporate AI tools into their platforms. AI has proven its worth in a variety of industries, including financial management, robotics, and healthcare.
What AI Stocks Can Offer:
The risk and potential benefit of investing in under $10 AI stocks are equal. The appeal of the AI sector is in its capacity to transform and simplify a variety of lives. For example, ChatGPT’s capability to handle enormous datasets and produce insights in various formats, including text, photos, and videos, is priceless. By using AI, for example, researchers can avoid hours of tedious work.
The following aspects further improve the potential for investing in AI stocks:
Projected Growth:
Industry experts predict that the global AI market will surge to over $1.8 trillion by 2030, indicating a compound annual growth rate of nearly 33%.
Versatility Across Industries:
AI has found its footing in various sectors, including healthcare, data management, fintech, and cybersecurity. In 2022, substantial investments were made in AI technology across these fields.
Finding Reasonably Priced AI Stocks:
Given the variety of AI stocks available for under $10, one must carefully examine their risk tolerance and their end goals. Although the stocks in this category are frequently linked to smaller enterprises and have higher volatility as a result, they have a significant potential for profit. Here are Some best AI stocks to buy in 2023
1. Nio Inc. (NIO:NYE)
Nio Inc.(NIO:NYE) a Chinese electric vehicle manufacturer, is gaining traction both domestically and internationally. With a diverse product line including sports cars, SUVs, and sedans, Nio specializes in smart vehicles that combine traditional and autonomous driving features.
The company’s MARKET CAP is USD 20.48B. Nio Inc Class A ADR’s current rating is “Buy”, while analysts are bearish on this stock with an average price target of USD 13.20 which shows an upside of 22.29%. The current value of NIO Inc is 10.84 which demonstrates an upside of (0.46%) from the last closing which was USD 10.79
2.FiscalNote Holdings Inc.(NOTE:NYE)
FiscalNote Holdings,(NOTE:NYE) a tech firm catering to Fortune 100 companies, law firms, and government agencies, employs AI, machine learning, and analytics to assist clients in policy management and advocacy campaigns. This small but impactful company enjoys analyst favor and has been accumulating shares over the past year. (NOTE:NYE) has a Market Cap of USD 0.38B.
The current price of this stock is USD 2.7500 which shows an upside of(3.38%) from the last closing which was USD 2.66.
FiscalNote Holdings Inc.’s average analyst rating is “Strong Buy”. Stock Target Advisor’s analysts are Bearish on this stock which is based on 2 positive signals and 8 negative signals. FiscalNote Holdings Inc.’s stock price has changed by -1.48% over the past week, -24.43% over the past month, and -74.22% over the last year.
3.SoundHound AI Inc.(SOUN:NSD)
SoundHound AI (SOUN:NSD) based in Santa Clara, focuses on AI applications for voice-enabled products. Its flagship product, Houndify, allows customers to create customizable AI voice assistants. The company’s market cap is $0.48B.
Sound Hound’s Analysts have provided a “Strong Buy” rating, while institutional investors have shown significant interest. Analysts at STA are Bearish on this stock which is based on 2 positive signals and 7 negative signals. At the last closing, SoundHound AI Inc.’s stock price was USD 2.36. The average target price is USD4.10 with a surge of 73.73% while the current price stands at 2.4400.
The only research company covering SoundHound (Canter Fitzgerald) has given it a buy rating, and institutions have bought up shares worth more than $100 million in the past year.
4. Nerdy Inc.(NRDY:NYE)
Nerdy Inc.(NRDY:NYE) operates an online learning platform that employs proprietary AI technology to connect learners with educators. With a diverse array of subjects and teaching styles, Nerdy has garnered attention from analysts who have raised price targets by an average of 22.97%. Nerdy has witnessed significant interest from institutional investors over the course of the last year. These institutional players have made substantial acquisitions of Nerdy’s shares, resulting in a noteworthy influx of capital amounting to a substantial $145 million.
5.Rekor Systems Inc.(REKR:NSD)
Rekor Systems (REKR:NSD) based in Maryland, addresses transportation management and public safety challenges using AI technology. One of its flagship offerings is the Rekor One intelligent roadway platform, designed to revolutionize the road management landscape through intelligent and automated solutions.
Despite being relatively young, the company has gained institutional attention and a market cap of USD 0.24B.
Based on the Rekor Systems Inc. stock forecast from 2 analysts, the average target price is USD 3.58 over the next 12 months. (REKR:NSD) average analyst rating is “Strong Buy”. Stock Target Advisor’s own stock analysis of Rekor Systems Inc. is Bearish.
- Analyst at B.Riley Financial raised the target from USD 3.75 to USD 4.
6. Lantronix Inc.(LTRX:NSD)
Lantronix Inc. (LTRX:NSD) specializes in AI-powered computer equipment and software for the Internet of Things (IoT). Its solutions find applications in areas like remote environmental management, video surveillance, and edge computing. STA Analysts are slightly Bearish on Lantronix while the average analyst’s rating for this stock is “Strong Buy” with average price targets indicating a potential upside of 121.93%
7.AudioEye Inc.(AEYE:NSD)
AudioEye (AEYE:NSD) offers accessibility solutions using AI technology and software, catering to users with disabilities. The platform’s core strength lies in its ability to transform data and information into tailored formats that address disabilities ranging from dyslexia to epilepsy, color blindness, and more. This versatility ensures inclusivity and enables users to interact freely with digital content.
The average analyst’s rating is “Strong Buy” while Stock Target Advisor’s own analysis of AudioEye Inc. is Slightly Bearish. The average target price is USD 9.33 which shows an upside of 108.80%. The current price remains at USD 4.4700
8. Lantern Pharma Inc.(LTRN:NSD)
Lantern Pharma (LTRN:NSD) a clinical-stage biotech company, employs AI and machine learning to expedite drug development, particularly for cancer treatments. Lantern has received analyst coverage with a “Hold” rating and the current price remains at USD 4.8100, which shows a raise of (3.89%) from the last closing price which was USD 4.81.
Road Ahead:
The above listed are the Artificial intelligence stocks under $10, which offer promising potential, but they also come with inherent risks, particularly in the case of smaller companies. As larger players dominate the industry, smaller startups face the risk of being overshadowed or absorbed. Investing in AI stocks under $10 requires careful consideration, research, and a willingness to adapt to changing circumstances.
