On May 24, we noted, “We believe it could push aggressively higher, near-term. In fact, we’d like to see AI retest its prior high of about $34 shortly. Helping, Goldman Sachs just said generative AI could raise global GDP by 7% over the next 10 years.”
At the time, the stock traded at just $27.16. Today, it’s up to $43.95, where you may want to consider taking wins off the table. While it’ll eventually see higher highs, it could pull back immediate-term on healthy profit-taking. Longer-term, we’d like to see AI run to about $50, as the AI story explodes. C3.AI has also been running on Nvidia’s AI-fueled earnings beat.
Were you in the C3.AI trade? If so, we’d love to hear how you did with it.