5 Best Artificial Intelligence Stocks To Invest In Right Now

2. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 251

Microsoft Corporation (NASDAQ:MSFT) ranks 2nd on the list of 12 best artificial intelligence stocks to invest in right now. The Washington-based tech giant produces software, electronics, and computers, among others. Microsoft Corporation (NASDAQ:MSFT) also operates its AI-powered technology through Azure AI services and GitHub.

Microsoft Corporation’s (NASDAQ:MSFT) AI for Earth is one of the company’s recent AI investments. AI for Earth is a five-year program that funds projects that use cutting-edge technology to solve environmental problems. Over 137 individuals and organizations in 47 countries have already benefited from the program.

In April, Microsoft Corporation (NASDAQ:MSFT) announced a $19.7 billion deal to acquire speech recognition and AI service provider Nuance. MSFT’s presence in the AI in the health care market will be boosted as a result of this acquisition. Shares of Microsoft Corporation (NASDAQ:MSFT) jumped 14% in the last three months.

On July 28th, BMO Capital analyst Keith Bachman raised the price target of Microsoft Corporation (NASDAQ:MSFT) to $325 per share from $290 per share and kept his Outperform rating on the stock. According to the analyst, The company’s fiscal fourth-quarter results were a positive move with margins above his expectations.

The company has a market cap of $2.18 trillion and offers a dividend yield of 0.77%. The company’s fiscal fourth-quarter EPS came in at $2.17, beating consensus estimates by $0.27. Microsoft Corporation (NASDAQ:MSFT) reported revenue in the fiscal fourth quarter of 2021 was $46.15 billion, a 21% increase year-over-year, beating consensus estimates of $44.1 billion. Shares of Microsoft Corporation (NASDAQ:MSFT) increased 30% year to date.

By the end of the first quarter of 2021, 551 hedge funds out of the 866 tracked by Insider Monkey held stakes in Microsoft Corporation (NASDAQ:MSFT), worth roughly $58.9 billion.