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3 AI stocks over $100 for your 2023 watchlist

Every business that uses digital technology is trying to figure out how they can use artificial intelligence to deliver better products, more enjoyable customer experiences, greater productivity, and many other improvements. It’s no wonder, then, that investors are looking for AI stocks for more than $100.

Why $100 and more?

Of the 73 technology stocks in the S&P500, 46 have stock prices above $100.

Stock prices over $100 were a badge of honor for tech stocks during the crazy growth of 2020 and 2021. This triple-digit price was a way to communicate legitimacy and strength as investors piled into more speculative trades.

This reflection also applies to artificial intelligence actions. The following three companies may not be tech names, but they are grabbing attention with their stock prices.

BLACKblack rock$632
OFDeere & Co.$384

Mettler-Toledo (MTD)

Source: Shutterstock

Mettler-Toledo (NYSE:TDM) manufactures precision instruments for several industries, but is considered part of the S&P 500 healthcare sector.

Makes sense. Its income from laboratory-related activities represented 58% of its overall sales in the fourth quarter. Its sales were up 15% year over year in the fourth quarter. Its industrial activity also performed well in the fourth quarter. Sales for this unit increased 11% year over year and accounted for 38% of company sales.

An example of how Mettler-Toledo is using AI in their business is AIWizardthe company’s solution for evaluating thermal analysis tools and identifying thermal events.

“Using a trained neural network integrated with STARe software, the AIWizard autonomously identifies and evaluates all thermal effects measured by DSC,” the Mettler-Toledo website states.

Black Rock (BLK)

A BlackRock (BLK) sign in front of a BlackRock office in San Francisco, California.

Credit: David Tran Photo / Shutterstock.com

black rock (NYSE:BLACK) has been on a five-year losing streak. BLK stock gained 12.1% over the period, significantly less than the index’s return of 41.4% over the same period.

An MBA student at Harvard write an article in November 2018 titled BlackRock: Is the Future of Machine Learning Investing?

“BlackRock has taken many steps to address the near-term AI revolution. First, the BlackRock Lab for Artificial Intelligence was created in the winter of 2018 to “strengthen our current teams and accelerate our efforts to bring the benefits of these technologies to the entire company and to our customers”, said COO Rob Goldstein, “the MBA student wrote.

A product that BlackRock uses to make better decisions is Aladdin, which stands for Asset, Liability, Debt and Derivative Investment Network. Using massive computing power, Aladdin can capture transaction details, estimate the value of portfolios in real time, and measure risk.

Aladdin generates significant revenue for the company’s technology services business. In 2020, the tool is estimated to have generated $1.1 billion sales for BLK.

AI won’t replace BLK’s human investors, but it will allow those making the calls to analyze more data faster. Time is money.

Deere & Co. (DE)

a green John Deere tractor

Credit: Mark Stephens Photography / Shutterstock.com

I have always been fascinated by Deere & Co. (NYSE:OF) efforts to automate agriculture. The agricultural equipment manufacturer’s focus on technology dates back to 1990s during the acquisition of NavCon, a company specializing in satellite guidance systems. He then created an internet-based GPS tracking system.

This was the start of his attempt to automate farming.

I found an interesting article from April 2022 by tnw contributor Tristan Greene. In it, he describes how AI could help farmers save time and money. For example, using AI, a farmer’s tractor could identify and remove weeds in real time while autonomously managing tillage simultaneously, saving time and labor. labor and increase productivity.

Soon the company will be take command for its autonomous tractor, significantly increasing its turnover and results

In the last quarter, Deere’s revenue increased 32% to $12.65 billion, and its net profit climbed 117% year-over-year to $1.96 billion. Its operating margin rose 7.7 percentage points to 19.9%. What is even more impressive is that it has generated significant growth in its construction activity. This is often an afterthought for investors.

Despite the good news, Deere stock has barely gained ground over the past year, as it fell 75 over that time.

As of the date of publication, Will Ashworth had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

Will Ashworth has been writing about investing full time since 2008. Publications where he has appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger and many others in the US and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.


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