Ives Identifies Undervalued AI Stocks Amid Sector Renaissance
Tech investor and analyst Dan Ives has identified three under-the-radar artificial intelligence (AI) stocks that could be poised for growth. In an interview, Ives pointed to Dell Technologies (NYSE:DELL), Cisco Systems (NASDAQ:CSCO), and Hewlett Packard Enterprise (NYSE:HPE) as companies that are 'starting to get a renaissance of growth.'
Ives notes that these companies have been around for some time and may not be as well-known for their AI connections. However, he believes they could benefit from acquisitions in the AI sector, which is seeing significant investment.
'The second, third, fourth derivatives of AI [are] now starting to play out,' Ives said. He also emphasized that while some investors may still be skeptical about these names, their multiples are lower than those of more well-known AI stocks.