Want to Get Richer? 2 AI Stocks to Buy Before They Skyrocket

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Palantir and Alphabet could unlock explosive gains for your portfolio in the long run.

The S&P 500 index had a strong first half of 2023 and has gained over 17.5% so far this year -- mainly driven by an artificial intelligence-fueled stock rally and easing inflation. The U.S. economy has also proved resilient and posted an unexpected 2.4% year-over-year growth rate in the second quarter, driven by a 7.7% year-over-year jump in business investment (excluding housing).

Against this backdrop, several analysts believe (with varying degrees of caution and optimism) that Wall Street now may be in the early stages of a bull market, especially since the S&P 500 has rallied by more than 20% from its October 2022 low.

Investors looking to capitalize on the momentum of this bull rally should consider opening small positions in two AI stocks: Palantir (PLTR -2.73%) and Alphabet (GOOG -0.18%) (GOOGL -0.27%). Here's why.  

Palantir

Data mining and analytics specialist Palantir has been a major beneficiary of Wall Street's artificial intelligence (AI) rally. But although the company's shares have gained nearly 209% so far this year, they still have significant growth potential. Veteran Wedbush analyst Dan Ives seems to agree with this premise; he recently initiated coverage for the company with an outperform (buy) rating and a price target of $25.

Read more at https://www.fool.com/investing/2023/08/06/want-to-get-richer-2-ai-stocks-to-buy-before-they/

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