Aug 23, 2023
Software companies positioned to grow: Analyst
, BNN Bloomberg
Hot picks: Three software stocks to buy that are betting big on AI
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Artificial intelligence will be a catalyst for growth at numerous software companies as the technology is integrated more into daily operations and offerings, according to one analyst.
Speaking with BNN Bloomberg’s Amber Kanwar on Wednesday, Tyler Radke, director and senior equity research analyst at Citi, said it’s still early to see the benefits of AI within the software sector, but it will likely spark growth in the months and years ahead.
For example, Radke expects that AI will push the earnings at Microsoft Corp. up significantly.
“Not only are they at record-high levels, we think the growth is going to accelerate heading into next year,” he said.
He recommended Microsoft Corp. (MSFT), MongoDB Inc. (MDB) and Snowflake Inc. (SNOW) as his top three stocks within the software sector.
Rake and his family do not own any shares in the stocks mentioned above, however, his firm and investment banking clients do.
For the full interview with Radke, click the video at the top of this article.
Speaking with BNN Bloomberg’s Amber Kanwar on Wednesday, Tyler Radke, director and senior equity research analyst at Citi, said it’s still early to see the benefits of AI within the software sector, but it will likely spark growth in the months and years ahead.
For example, Radke expects that AI will push the earnings at Microsoft Corp. up significantly.
“Not only are they at record-high levels, we think the growth is going to accelerate heading into next year,” he said.
He recommended Microsoft Corp. (MSFT), MongoDB Inc. (MDB) and Snowflake Inc. (SNOW) as his top three stocks within the software sector.
Rake and his family do not own any shares in the stocks mentioned above, however, his firm and investment banking clients do.
For the full interview with Radke, click the video at the top of this article.
