2 stocks benefiting from the growth of AI and cloud technologies
The last few years have seen dramatic changes in the software industry, with cloud technology changing the way companies use software. This transition has led to the development of the software as a service (SaaS) model, which has allowed users to pay for subscriptions instead of buying licenses. Today, however, a new wave of innovation is on the scene: generative artificial intelligence. How this technology evolves remains a question, and how profound the impact will be on the market as a whole. But one thing is clear - changes in the software sector are creating new opportunities.
According to Macquarie analyst Steve Koenig, the current moment is a good point to buy stocks, especially those associated with rapid growth in cloud technology and artificial intelligence. Koenig mentions that growing investments in AI and digitalization open up room for strong gains in the coming years. In this context, he focuses on two stocks that may offer interesting upside potential.