Facebook and Micron are among the favorite ways to play the boom in artificial intelligence, according to top technology analysts.
The analysts were identified by looking at the average return of their recommendations and their success rate in those calls, as tracked by TipRanks, a Wall Street analyst database.
Here are five favorite AI stocks recommended by the best-performing technology analysts.
1) Microsoft (MSFT)
In 2017, Microsoft changed its strategy from a "mobile-first and cloud-first world" to "an intelligent cloud and an intelligent edge infused with AI." And this strategy shift seems to be paying off. The company is now one of the leaders in AI, and has just teamed up withl Amazon to offer developers new tools to develop and share open source AI software.
2) Yext (YEXT)
Yext is a fast-growing tech company that makes it possible for restaurants, banks, doctors, and other businesses to centrally control online data in near real time. On November 5, KeyBanc analyst Brent Bracelin assigned a buy rating to Yext with a $16 price target. Given that the stock is currently trading at just $12, this suggests upside of 33 percent for the next 12 months.
3) Facebook (FB)
Social media giant Facebook says it "wants to solve AI." The company boasts an impressive AI research team led by deep learning pioneer Yann LeCun and has listed AI as one of its major initiatives for 2018.
4) Micron (MU)
Micron is one of the world's three biggest memory companies (Samsung and SK Hynix being the other two). Together these three companies control over 80 percent of the $122 billion global memory chip market at a time of worldwide memory shortage.
5) Alphabet Inc (GOOGL)
Google is using its AI technology to make existing products like email and search smarter. It is also releasing a constant stream of AI products including Google Lens (a camera that can recognize what it sees), smart speakers and wireless headphones that incorporate Google Assistant.
Reference: CNBC
Read more: https://www.cnbc.com/
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