AI Stocks Poised for Growth As Market Booms
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The AI market is projected to grow rapidly, reaching nearly $2 trillion by 2030. Investing in AI could benefit from this long-term growth.
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Alphabet and Amazon are attractive AI investments due to their leading cloud platforms which are crucial for AI.
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Alphabet's earnings disappointed recently but its AI-focused Google Cloud segment is growing quickly. Amazon Web Services is highly profitable and expanding its AI offerings.
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Amazon has more near-term growth potential - estimates suggest its earnings per share could reach $7 by 2026, compared to nearly $9 for Alphabet.
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With a more dominant role in cloud computing, Amazon seems the better stock to invest in the emerging AI market. Estimates suggest it could rise 65% in 2 years compared to 32% for Alphabet.