AI stocks are those stocks and investment opportunities that you can grab as the AI trend is rising in the Indian market. As we are heading further into 2024, more and more companies are exploring the potential of artificial intelligence. To keep up with this trend, you should also be updated with the best AI stocks to buy in 2024.
Let’s go ahead and see what 2024 has in store for you in the space of AI stocks!
What are AI stocks?
Many companies in India allow the public to invest in them through stock exchanges. These companies can fall into various categories, such as banking, technology, commodity, telecom, etc. So, AI stocks are those stocks that are tied to companies that have AI products or services as their offerings.
A simple example of AI stock would be Tata Consultancy Services, which is exploring opportunities in the AI space. It has trained over 100,000 people on its staff in AI technology.
Which are the best AI stocks to invest in 2024?
To give you a better idea, we have compiled a list of the best AI stocks that you can invest in in 2024.
1. Tata Consultancy Services
Tata Consultancy Services, or TCS, is one of the most popular consultancy firms in India. Being one of the biggest employers in the country, TCS has got to do a lot with AI technology. The stock prices for TCS are rising and are nearly hitting a 52-week high. It might be a good time to invest in this AI stock.
2. Infosys
Founded by Narayana Murthy, Infosys is a very popular name in the Indian IT sector. Headquartered in Bangalore, Infosys has been constantly working on AI systems since 2022. They have developed Topaz, an AI business solution, for their clients. This AI stock can be quite a good one to invest in 2024.
3. HCL Technologies
HCL is a popular name in the computing systems market in India. The company has been providing various software and hardware solutions to its customers since 1976. With the rising AI trends, HCL is not far behind in this race.
They offer the AI Labs extension of Cloud Native Labs, which is focused on the construction of strategic partnerships to enhance AI delivery capabilities. As HCL has very low debt, it can be very rewarding to invest in it. As an AI stock, HCL can be a pretty good option for you.
4. Wipro
Wipro is a top contender in the Indian IT industry. With over 210,000 of its staff being trained in AI-based skills, it can be expected that it will soon bring various AI features to mainstream consumer products.
So, their stock prices have been experiencing a rise since the last month, hitting a 1-month high. Wipro also has very low debt and liabilities.
So, Wipro can be a top AI stock to invest in 2024 for you.
5. Tata Elexi
Tata is a very strong name in the technology landscape in India. They are among the top leaders in the AI race. Tata Elexi provides AI DMS, AI-based video analytics, AI-based CMS suites, and much more. As the company has zero debt on its accounts, we can easily recommend that you invest in its stock. It is one of the top AI stocks to invest in 2024.
What should I consider before investing in AI stocks in 2024?
You should consider things like past performance, company debt, assets, liabilities, and sources of funding before investing in any AI stock in 2024. There are several ways to analyze these stocks before investing. You can look at the performance graphs of the stocks.
You can also get expert help from top trading platforms such as Groww, Zerodha, ET Money, etc. These applications provide expert analysis of the future performance of the stocks. This will help you make a better decision about your investments.
Conclusion
In 2024, many AI startups and companies have become very popular, causing AI stocks to go up in both the Indian and US markets. Companies like Tata Consultancy Services, Infosys, HCL Technologies, Wipro, and Tata Elexi are leading this revolution. Each of them has special AI products and services, making these stocks great investment opportunities.
Considering factors like past performance, debt, assets, and liabilities is very important before investing in AI stocks. You should consider expert analysis from trading platforms that can aid in making good investment decisions.
FAQs:
What are AI stocks?
AI stocks are tied to companies offering AI products or services that represent investment opportunities in the AI sector.
Which are the best AI stocks to invest in 2024?
The top AI stocks for 2024 include Tata Consultancy Services, Infosys, HCL Technologies, Wipro, and Tata Elexi, each presenting promising investment potential.
What factors should I consider before investing in AI stocks?
You should consider past performance, company debt, assets, liabilities, and expert analysis from trading platforms to make investment decisions in AI stocks.
How can I analyze AI stocks before investing?
Analyze performance graphs, seek expert advice from trading platforms like Groww, Zerodha, and ET Money, and examine company financials to assess the future growth of AI stocks.