3 AI Stocks to Snap Up for Explosive Returns in 2021

AI is now deeply integrated into our lives, from influencing our online shopping decisions, to helping with booking meetings and schedules, to finding the best deals. AI is ubiquitous, from social media to digital advertising and games to healthcare and diagnostics.

A growing mention deserves a growing clout of conversational AI in the form of digital assistants, including AMZN Alexa from Amazon, AAPL Siri from Apple, GOOGLE'S OK / Hey Google, and Microsoft's MSFT Cortana and chatbots.

As the name suggests, Artificial Intelligence or AI is based on a data-driven simulation of the process of human intelligence by machines, especially computer systems.

Organizations leverage the power of AI as it works with the workforce and enables superior work through robust automation and accelerated computing of complex workloads. The increased productivity of employees helps companies achieve business goals faster than planned.

The adoption of AI will continue to grow as the focus on improving the user experience increases and companies look for bespoke solutions. Additionally, the growing popularity of autonomous cars and smart devices creates the conditions for solid growth in the AI ​​space.
AI is here to stay around 2021 and beyond
The coronavirus crisis sparked a strong digital transformation environment, and major breakthroughs in cloud computing, predictive analytics, deep learning, machine learning, natural language processing (NLP), and Internet of Things (IoT) have paved the way for a massive AI boom leveled in 2021.

These developments in AI are leading to robust achievements in futuristic technology, including the training of advanced driver-assisted systems (ADAS) in self-driving vehicles, increased AR / VR use in business, healthcare and entertainment, edge computing, blockchain, and even advanced military equipment .

Companies are using AI to build robust applications that are revolutionizing broader work trends in a variety of areas, including supply chain optimization, customer care, smart home automation, logistics, transportation, security, utilities, financial services and banking, robotics, and agriculture.

According to IDC, spending on AI systems is projected to reach $ 110 billion by 2024, compared to $ 50.1 billion in 2020, with a CAGR of 20.1% between 2019 and 2024.
3 top AI stocks to build a fortune on in 2021
Increasing optimism in the AI ​​area is reflected in the strong performance of the Global X Artificial Intelligence & Technology ETF (AIQ), which has increased by 51.8% over the year to date compared to the rally of the SPDR S & P 500 ETF (SPY) of 14.1%.

Investors looking to take advantage of the emerging prospects in this lucrative AI market can rely on Micron Technology MU, Microsoft and Cloudera CLDR. In particular, each of these stocks has outperformed the S&P 500 index since the start of the year.

Micron Technology manufactures and markets high-performance memory and storage technologies, including DRAM (Dynamic Random Access Memory), NAND flash memory, NOR flash, 3D XPoint memory and other technologies. Its solutions are used in AI-controlled edge computing, consumer, networking and mobile products.

As self-driving cars take off, the sensors and cameras used in the ADAS systems will use more AI computing. This in turn requires the need for advanced chips and robust drivers, which Micron aims to meet.

In 2019, the company acquired the software and hardware startup FWDNXT to provide a powerful AI development platform for deep learning applications required for data analysis, especially for IoT and edge computing.

Additionally, the increased use of data center chips and smartphones (e.g., AI manipulation of images) in running complex AI workloads increases the prospect of Micron's expertise in storage.

The growth of AI is likely to fuel demand for memory chips in the long run, which is likely to be a tailwind for Micron and currently has a Zacks Rank 1 (Strong Buy). The full list of today's Zacks # 1 Rank stocks can be found here.

In particular, the Zacks consensus estimate for FY2021 earnings has improved 36.6% to $ 3.66 over the past 30 days, underscoring the bullish sentiment for the stock.

Microsoft is well positioned to benefit from the increasing diffusion of AI expertise in its product portfolio, including Microsoft 365, Teams, Dynamics 365, HoloLens and the cloud computing platform Azure.

The tech giant is focused on democratizing AI through the development of conversational AI, ML, data science, robotics, and IoT. In addition, Microsoft Azure includes AI-driven tools for medicine, speech, robotics, medical imaging, and more.

In 2019, the company also invested $ 1 billion in OpenAI, which creates artificial general intelligence, a technology that works like human intelligence. The company's GitHub acquisition, which enriched the company's AI capabilities, is a key catalyst in this regard. Additionally, the recent acquisitions of Bonsai, Lobe, CyberX and Softomotive are still noteworthy.

The cloud-centric company currently has a Zacks rank 2 (Buy). In particular, the Zacks consensus estimate for FY 2021 earnings has improved 5.8% over the past 60 days to $ 6.73.

Cloudera is on a good run in 2021, led by its efforts to deliver a resilient enterprise data cloud that enables "actionable insights from the edge to the AI." The company offers a cloud-based software platform for data, ML and analytics. The company's AI offerings help companies save, process and manage data on servers, making the process safe and efficient.

The company is focused on helping companies get analytics results faster by harnessing the power of big data to make informed decisions. This is further underpinned by the acquisition of Fast Forward Labs and Arcadia Data.

In addition, the company intends to expand the use of "advanced data and AI solutions" in June 2019 in cooperation with International Business Machines IBM.

With the boom in AI, the company is well positioned to build a superior position to benefit from the emergence of AI. Additionally, the accelerated deployment of 5G is a tailwind for this Zacks stock, ranked 2nd.

In particular, the Zacks consensus estimate for financial year 2021 earnings has improved by 21.2% to 40 cents in the last 30 days.
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