2. Medtronic Medtronic (NYSE: MDT) isn't your first thought when someone says "AI stock." This medical device firm may gain from AI because it's using it to build top products. Medronic's five AI products, including its GI Genius intelligent endoscopic gadget and AI-enabled surgical system, have been approved.
Polaris Research expects the health AI market to exceed $430 billion by 2032, growing by double digits. Nvidia CEO Jensen Huang expects AI to transform healthcare. The technology could improve diagnostics, medications, and patient outcomes.
Medtronic created an AI center of excellence to cost-effectively share resources across its businesses and develop AI.
Medronic is a worldwide device leader with a strong commercial infrastructure, so it can offer its AI devices to different regions and build market share. At 15 times forward earnings forecasts, the stock is an excellent entry place for this potential AI in healthcare winner.
3. Intel Intel (NASDAQ: INTC) trailed behind in the early AI race, so growth investors shunned it. The business dominates the central processing unit market but has lagged in GPUs. GPUs run AI programs.
Two Intel choices should help the business turn things around. First, it refocused on AI, announcing a compelling portfolio of new technologies, including a processor family to launch the AI personal computer era. If successful, these devices might improve Intel's revenue and change investors' perceptions.
Intel is outsourcing its manufacturing operations to others to become the world's second-largest foundry by 2030. This enormous bet may be worth the effort and risk. Intel's earnings could change if it achieves its target.
ntel shares are currently trading at 27 times forward earnings forecasts, which seems fair for a business that could become an AI success story.
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