5 Stocks with AI Catalysts in 2023

In this article, we will take a look at the 5 stocks with AI catalysts in 2023. To see more such companies, go directly to 10 Stocks with AI Catalysts in 2023.

5. Expedia Group, Inc. (NASDAQ:EXPE)

Number of Hedge Fund Holders: 57

Expedia Group, Inc. (NASDAQ:EXPE) is another travel-related stock that Morgan Stanley believes could move on the back of new AI-related features as the firm expects the company to announce next-generation features sometime in the future.

Expedia Group, Inc. (NASDAQ:EXPE)’s management talked about how the company is starting to deploy AI into its applications in a latest earnings call:

“We have already moved 100% of our verbal U.S. web traffic to the platform and our on-track to complete the migration during the fourth quarter. As we’ve explained before, we expect some modest headwinds to conversion as we transition, but ultimately the payoff is well worth it with better conversion, increased feature velocity, and ultimately better performance from verbal overall. Our single-tech strategy is designed to give all of our brands the benefit of our entire suite of product features, including our latest advancements in AI and machine learning, to personalize and enhance the customer experience. On the topic of AI, earlier this year, we launched conversational trip planning, powered by ChatGPT and the Expedia iOS app. And last month, we launched it on the Expedia Android app.” Read the full earnings call transcript here.

Aristotle Atlantic Core Equity Strategy made the following comment about Expedia Group, Inc. (NASDAQ:EXPE) in its first quarter 2023 investor letter:

“Expedia Group, Inc. (NASDAQ:EXPE) provides online travel services for leisure and small business travelers. The company offers a wide range of travel shopping and reservation services, as well as provides real-time access to schedule, pricing and availability information for airlines, hotels and car rental companies. Expedia serves customers worldwide.

We see Expedia benefiting from the growth of booking travel online, both for leisure and in corporate travel. The company also benefits from rapid growth in alternative accommodations, vacation home rental, through VRBO. The main sources of revenue and profitability are from hotel and vacation home rental. Additionally Expedia has exposure to airline ticket sales and automobile rentals. Post the COVID-19 pandemic, Expedia’s debt has been reduced and share repurchase has resumed and we would expect a dividend to be reinstated.”