5 Cheap AI Stocks to Buy in 2023

In this article, we will be taking a look at 5cheap AI stocks to buy in 2023. To read our detailed analysis of the artificial intelligence sector, you can go directly to see the 10 Cheap AI Stocks to Buy in 2023.

5. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 43

Upside Potential as of March 31: 11.1%

Average Analyst Price Estimate: $143.5

International Business Machines Corporation (NYSE:IBM) is an information technology company based in Armonk, New York. The company provides integrated solutions and services, including hybrid cloud platform and software solutions.

David Grossman at Stifel holds a Buy rating on International Business Machines Corporation (NYSE:IBM) shares as of January 23, alongside a $158 price target.

Wall Street analysts have placed an average price target of $143.5 on International Business Machines Corporation (NYSE:IBM) shares, with a high forecast of $160. In the fourth quarter, the company’s revenue was $16.6 billion, of which 43.6% came from its software operations. Its software revenues also increased by 2.8% year-over-year in that quarter to $7.3 billion.

Out of the 943 hedge funds tracked by Insider Monkey in the fourth quarter, 43 funds were long International Business Machines Corporation (NYSE:IBM), with a total stake value of $1.2 billion.