New High for this AI Stock

Brit Ryle

Posted February 2, 2024

Artificial Intelligence (AI) isn’t an emerging trend. AI isn’t the next big thing. 

AI is happening right now, as we speak. It is today’s big thing, not tomorrow’s. And it has been for nearly a year. 

It is no longer appropriate to sit on the sidelines waiting for the moment when AI technology and the companies behind it prove themselves as worthy investments…

This week we got indisputable proof that AI is happening now from Microsoft (NASDAQ: MSFT). Microsoft essentially owns the most potent AI technology, by virtue of its exclusive relationship with ChatGPT. Microsoft was also first to market with AI products, so it should be expected that Microsoft would be among the first companies to see the benefits of AI in its earnings numbers…

And holy moly it’s earnings report for the October – December quarter of 2023 was dynamite. 

Compared to the same quarter from the year before, Microsoft’s total revenue was up 18% to $62 billion. Revenue at its Azure cloud business was up 30%. And net profit was up 30% too. 

This growth is all AI. And it’s certain to get bigger, and better. 

Last Thursday January 25, Pro Trader Today editor Christian DeHaemer told you about his favorite AI stock, Snowflake (NASDAQ: SNOW). In fact, he told you his exact play: 140 shares at $207.63. 

It may have looked like Christian had a bout of premature allocation when Snowflake sold off down to $195 on Wednesday, after Microsoft and Google (NASDAQ: GOOG) reported earnings. 


Snowflake is ramping 9% today to a new record high above $219 a share. Trading volume today is way above normal and there’s no particular news for Snowflake getting buyers excited…

The excitement is coming from the speed with which AI has become a powerful new source of revenue for tech companies. And it’s likely that AI will start showing up as a money-maker for non-tech companies pretty soon…

Microsoft said that half of the companies in the Fortune 500 are Azure AI customers (Azure AI is Microsoft’s cloud hosting business, with the addition of AI applications). Last year, Coca-cola used Azure AI to help formulate a new version of Coke called Y3000. The new formulation was mostly a gimmick, the company asked people to describe what they think Coke might taste like in the year 3000 and then used AI to create it. 

The point is, once a company like Coca-cola is paying for Azure AI (or the Amazon Web Services equivalent) the ways they can use it for various marketing ideas is limitless. 

Tech companies have their AI strategies in place. Fortune 500 companies are experimenting with their AI strategies right now. As an investor, do you have an AI plan? If not, you should. And soon. AI is not going to wait…

That’s it for me today. Have a great weekend and I’ll talk to you Monday,

Briton Ryle

Chief Investment Strategist
Pro Trader Today