Pay close attention to the artificial intelligence boom.
With it, we could be looking at a potential $641.3 billion opportunity.
According to Verified Market Research, the Global Artificial Intelligence Market size was valued at $51.08 billion in 2020 and could hit $641.3 billion by 2028, growing at a CAGR of 36.1% from 2021 to 2028. AI could revolutionize every industry from consumer products and transportation to healthcare and manufacturing, as corporate America races to embrace machine learning, deep learning and other processes that allow computers to perform tasks that generally require human intelligence.
One of the stocks booming with AI is AI application software company, C3.AI (AI).
At the moment, the company delivers a family of fully integrated products including the C3 AI Suite, an end-to-end platform for developing, deploying, and operating enterprise AI applications and C3 AI Applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally.
Earnings have been just as impressive.
In fact, in its latest quarter, CEO Tom Siebel said, “We killed. We had an exceptionally strong quarter, exceeding everyone’s expectations,” as quoted by Barron’s.
The company saw revenue of $69.8 million, up 42% year over year. That was above the company’s own guidance of $66 million to $68 million, and above Street expectations for $66.8 million.
Barron’s added: “The company now sees revenue for the April 2022 fiscal year in the range from $251 million to $252 million, with a non-GAAP loss in the range from $90 million to $94 million; previous guidance called for revenue from $248 million to $251 million, and a loss in the range from $100 million to $108 million,” added Barron’s.
Plus, the “company’s goal is to establish itself as the market leader in enterprise AI software.”
“We did that at Oracle with relational database-management software, and we did it at Siebel Systems in customer-relationship management,” added. “Investors may not understand the magnitude of the addressable market. But that’s OK. I don’t feel mistreated. It’s fine. But the stock is a screaming buy.”
