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Highlights
- NVIDIA Corp’s (NVDA) revenue surged 50% YoY in Q3, FY22.
- IBM revenue came in at US$17.6 billion in Q3, FY21.
- DocuSign, Inc’s (NASDAQ:DOCU) total revenue jumped 42% YoY in Q3, FY22.
As companies automate their business processes, demand for artificial intelligence (AI) products and services has grown. In addition, the Covid-19 pandemic has accelerated the growth of the sector. Today, many large firms, from healthcare to automotive, are moving towards AI-backed digital channels for growth. According to experts, major companies would digitally carry out 75% of their customer interactions post the Covid-19 pandemic.
Here we explore the top AI stocks to watch in December.
Also Read: Alibaba (BABA) shares fell over 46% this year, making them cheapest ever
NVIDIA Corporation (NASDAQ:NVDA)
Nvidia is a technology company based in Santa Clara, California. It manufactures graphics processing units for gaming and other related industries.
The shares of the company traded at US$318.30 at 9:39 am ET on December 3, down 0.92% from their closing price of December 2. Its stock value increased by 144.98% YTD.
The firm has a market cap of US$803.15 billion, a P/E ratio of 99, and a forward P/E one year of 88.75. Its EPS is US$3.25. The 52-week highest and lowest stock prices were US$346.47 and US$115.67, respectively. Its trading volume was 47,289,030 on December 2.
The company's revenue surged 50% YoY to US$7.10 billion in Q3, FY22. On a GAAP basis, its net income came in at US$2.46 billion, or US$0.97 per diluted share, compared to US$1.33 billion, or US$0.53 per diluted share in Q3, FY21.
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International Business Machines Corporation (NYSE:IBM)
IBM is a leading technology firm based in New York. It provides various services like cloud computing, global business services (GBS), system and financing services.
Its stock was priced at US$118.15 at 9:48 am ET on December 3, up 1.07% from its previous closing price. The IBM stock tumbled 2.55% YTD.
The market cap of the company is US$86.28 billion, the P/E ratio is 22.29, and the forward P/E one year is 11.24. Its EPS is US$5.29. The stock saw the highest price of US$152.84 and the lowest price of US$114.56 in the last 52 weeks. Its share volume on December 2 was 5,267,149.
The company's revenue surged 0.3% YoY to US$17.6 billion in Q3, FY21. Its net income came in at US$1.13 billion against an income of US$1.69 billion in Q3, FY20.
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Micron Technology, Inc. (NASDAQ:MU)
Micron Technology is a memory and data-storage producer. Its products include dynamic random-access memory, flash memory, and USB flash drives. It is based in Boise, Idaho.
The shares of the company traded at US$82.43 at 10:10 am ET on December 3, up 0.53% from their closing price of December 2. Its stock value surged 11.92% YTD.
The firm has a market cap of US$92.67, a P/E ratio of 16.09, and a forward P/E one year of 9.52. Its EPS is US$5.15. The 52-week highest and lowest stock prices were US$96.96 and US$65.67, respectively. Its trading volume was 22,994,500 on December 2. The company will report its fiscal 2022 first-quarter results on December 20 after the market close.
On a GAAP basis, its revenue came in at US$8.27 billion in Q4, FY21, compared to US$6.05 billion in Q4, FY20. Its GAAP net income was US$2.72 billion against an income of US$988 million in Q4, FY20.
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C3.ai, Inc. (NYSE:AI)
C3.ai is a Redwood City, California-based technology company that offers AI software for building enterprise-scale AI apps.
The shares of the company were priced at US$28.65 at 10:34 am ET on December 3, down by 4.63% from their previous close. The AI stock plunged 74.97% YTD. The market cap of the company is US$2.89 billion, and the forward P/E one year is -17.78. Its EPS is US$-1.40.
The stock saw the highest price of US$183.90 and the lowest price of US$27.52 in the last 52 weeks. Its share volume on December 2 was 19,251,620.
The company's revenue surged 41% YoY to US$58.3 million in Q2, FY22. Its net loss came in at US$56.73 million compared to US$14.94 million in Q2, FY21.
It raised the fiscal 2022 revenue guidance in the range of 35% to 37% from 17% in FY21.
Also Read: Seven hot penny stocks to watch in December
Source: Pixabay
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DocuSign, Inc. (NASDAQ:DOCU)
DocuSign is a technology company that enables organizations to manage electronic agreements. It is an eSignature firm based in San Francisco, California.
The shares of the company traded at US$139.07 at 10:45 am ET on December 3, down 40.52% from their closing price of December 2. Its stock value jumped 5.13% YTD.
The firm has a market cap of US$27.67 billion and a forward P/E one year of -23382.00. Its EPS is US$-0.58. The 52-week highest and lowest stock prices were US$314.76 and US$179.49, respectively. Its trading volume was 8,062,694 on December 2.
The total revenue of the firm increased by 42% YoY to US$545.5 million in Q3, FY22. Its net loss came in at US$5.67 million compared to a loss of US$58.49 million in Q3, FY21.
It now expects its revenue to be between US$2.083 billion and US$2.089 billion for the year ending on January 31, 2022.
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Bottomline
The AI-based revenues are expected to hit US$100 billion by 2025, driven by the remote work trends, according to a Deloitte report. Another industry survey estimated that the global AI market is expected to reach US$997.7 billion by 2028, growing at a CAGR of 40.2%. These estimates indicate the growing demand for AI products and services. The S&P 500 technology sector surged 28.50% YTD and 12.21% QTD.
