5 Best AI Stocks to Buy in June 2021
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Technology has come a long way from mainframe computers to PCs to smartphones. The latest technology to captivate the mind of investors everywhere is artificial Intelligence or AI. AI companies refer to any entity that benefits from the development of AI. This includes software developers and chipmakers as well as companies involved in machine learning and high-performance computing(HPC). Here are some of the top AI stocks to watch out for in June 2021.
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1. Pinterest- (NYSE: PINS)
Pinterest is one of the world’s biggest data and AI company with a market value of over $43.7 billion. The company’s global monthly active users grew by 30% (YTY) to 478 million in 2021 Q1. However, the company has yet to turn a profit. The company sports a strong set of financials with total marketable securities and cash worth $2 billion.
Moving on to the technical side, moving averages like Exponential Moving Average (20)(67.74), Simple Moving Average (20)(66.72) and Volume Weighted Moving Average (20)(67.59) indicate a buy action. On the other hand, oscillators such as Relative Strength Index (14)(60.09), Stochastic %K (14, 3, 3)(88.82) and Commodity Channel Index (20)(98.02) point towards a neutral action. PINS shares closed on June 21st at $71.13 with a downtrend of -4.12%.
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2. Nvidia- (NASDAQ: NVDA)
Nvidia is one of the biggest graphics chipmakers around, with a market value of $449.0 billion. The company is well-positioned to capitalize on AI technology as it has spent almost 20% of its sales on R&D. The company is also on the leading edge of the AI revolution. Its first-quarter showed an increase of 13% in sales and 31% in earnings, compared to the previous quarter. The company’s cash flow has been growing at a rate of 35% for the last 5 years.
Over on the technical side, oscillators like Stochastic RSI Fast (3, 3, 14, 14)(73.17), Williams Percent Range (14)(−30.19), Bull Bear Power(37.40), and Ultimate Oscillator (7, 14, 28)(62.78) point towards a neutral action. On the other hand, moving averages such as Simple Moving Average (200) (558.08) and Volume Weighted Moving Average (20)(689.52) point towards a buy action. NVDA shares closed on June 21st at $737.09 with a downtrend of -1.13%.
67% of all retail investor accounts lose money when trading CFDs with this provider.
3. Taiwan Semiconductor – (NYSE: TSM)
Taiwan Semiconductor is a $565.8 billion valued technology company that manufactures integrated circuits for AI frontrunner Nvidia as well as Qualcomm and Advanced Micro Devices. The company produces about 24% of the world’s semiconductors. Its high-performance computing sector which consists of AI-driven technology grew at a staggering 30% in 2020 compared to a 25% growth in overall sales.
If we see the technical indicators for this company, moving averages such as Volume Weighted Moving Average (20)(117.18), Hull Moving Average (9)(116.17) and Exponential Moving Average (30)(116.80) indicate a sell action. On the other hand, oscillators like Bull Bear Power(−5.99), Stochastic RSI Fast (3, 3, 14, 14)(16.16), and Awesome Oscillator(2.4) point towards a neutral action. TSM shares closed on June 21st at $114.14 with a downtrend of -1.42%.
67% of all retail investor accounts lose money when trading CFDs with this provider.
4. Amazon.com – (NASDAQ: AMZN)
Amazon.com is one of the world’s biggest companies that are starting to capitalise on AI. The company is valued at $1.7 trillion. The main opportunity for investors comes from the company’s cloud businesses which rely on AI-powered computing to governments, businesses and other institutions. The company sits with more than $200 billion in cash.
When we take a look at the technical side of Amazon, we see that oscillators such as Stochastic %K (14, 3, 3)(91.90), Relative Strength Index (14)(66.25) and Stochastic RSI Fast (3, 3, 14, 14)(92.94) point words a neutral action. Simple Moving Average (10)(3385.41), Volume Weighted Moving Average (20)(3329.47), Hull Moving Average (9)(3502.62) and other moving averages point towards a buy action. AMZN shares closed on June 21st at $3453.96.
67% of all retail investor accounts lose money when trading CFDs with this provider.
5. DocuSign – (NASDAQ: DOCU)
DocuSign is a company that specialises in getting signatures on a contract. Valued at $50.1 billion, the company has recently acquired Seal Software, an AI company. The company has doubled since its inception in 2018 to $1.5 billion. The company’s customer base is reaching 1 million users very soon. The company has also limited its losses to $11 million in its first quarter, which is much lesser than the 26% a year ago.
Over at the technical side, Awesome Oscillator(45.89), Stochastic %K (14, 3, 3)(96.64), Stochastic RSI Fast (3, 3, 14, 14)(93.46), Bull Bear Power(43.7) and other oscillators point towards a sell action. On the other hand, moving averages such as Volume Weighted Moving Average (20)(237.01), Simple Moving Average (200)(223.04), and Simple Moving Average (100)(221.33) point towards a buy action. DOCU shares closed on June 21st at $270.02 with a downtrend of -1.61%.
67% of all retail investor accounts lose money when trading CFDs with this provider.
As Artificial Intelligence is taking centre stage in the technology revolution, investors will be wise to focus on such companies in the near future. More and more companies will join the ranks of profitable investments as economical access to AI grows.
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