It's never been easier to become a millionaire, and the stock market is one of the biggest reasons! So, which AI stocks could really make you a millionaire? Here are three that are worth considering.
1.Palantir Technologies
In just 12 months, $Palantir Technologies Inc.(PLTR)$ 's stock has skyrocketed by 239%, making plenty of shareholders richer by the minute. The company runs a data analytics platform that serves both governments and businesses. Think the US Defense Department, the UK's National Health Service, and the CDC for gov't clients. Commercial clients include $Morgan Stanley(MS)$ and $Merck(MRK)$ .
Its business is booming, as evidenced by its fiscal fourth-quarter results. Overall revenue was up 20%, US commercial revenue was up 70%, the number of US commercial customers has jumped 55%, and generated $731 million in free cash flow over the past 12 months.
2. Super Micro Computer
$SUPER MICRO COMPUTER INC(SMCI)$ is arguably the hottest stock on Wall Street, climbing 1060% over the past 12 months, meaning that a $1,000 investment last March has grown to nearly $12,000 today.
The company makes most of the physical hardware needed to store, cool, and run cutting-edge GPUs. And their sales are soaring. In just three years, SMCI's annual revenue has skyrocketed from $3.4 billion to more than $9.2 billion. In addition, sales are expected to increase to $14.5 billion and $19.8 billion in 2024 and 2025, respectively.
Of course, SMCI might not be the wisest choice for every investor. But for those looking for high-growth stocks in the AI revolution, SMCI is definitely worth considering.
3. Microsoft
The company has made millionaires, and even billionaires! Compared to some of the hottest AI stocks, $Microsoft(MSFT)$ 's 10% return this year might seem tame. But remember, MSFT is a $3trillion giant.
What's more, Microsoft's track record since CEO Satya Nadella took the helm a decade ago has been stellar. Under his leadership, Microsoft's annual revenue has grown from $83 billion to $228 billion, and the focus has shifted to cloud computing.
The company is constantly innovating. Their latest offering? Microsoft 365 Copilot. Now, users can access real-time AI tools integrated into popular programs like Word, Excel, Outlook, and PowerPoint. This will boost productivity for both individuals and businesses, further solidifying Microsoft 365 as a must-have business software suite.
In conclusion, there's a reason MSFT is the biggest company around. With strong leadership, innovative products, and a massive scale, the stock is likely to continue minting millionaires for a long time to come.
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