Looking for bargain artificial intelligence (AI) stocks? You aren’t the only one.
In fact, given how fast the AI market has been growing, it’s even getting hard to find reasonably priced AI stocks. Take Micron Technology (MU 0.35%), for example. Its share price is up more than 550% in the past year.
Today’s Change
(-0.35%) $-1.81
Current Price
$516.65
Key Data Points
Market Cap
$583B
Day’s Range
$502.51 – $535.50
52wk Range
$78.54 – $535.50
Volume
1.3M
Avg Vol
41M
Gross Margin
58.54%
Dividend Yield
0.10%
But that doesn’t mean there aren’t some hidden gems out there if you know where to look. And one such hidden gem is Trimble (TRMB +1.57%). Here’s why this under-the-radar stock could be your ticket to millionaire status.
A surprise opportunity
Trimble didn’t start out as an AI company. It was founded in 1978, providing radio navigation and GPS devices to the construction and defense industries. In 1999, the company added surveying software to its product lineup and, since then, has added 3D scanning and imaging technology, as well as AI-powered geospatial mapping technology, to its arsenal.
Image source: Getty Images.
Geospatial mapping technology wasn’t seen as a major growth industry until the twin crazes of self-driving vehicles and autonomous robotics took the market by storm. Trimble’s leading position in this niche has helped its software and services revenue skyrocket. In fact, 72% of the company’s revenue now comes from software and services.
Trimble has been aggressively expanding its AI offerings, including through a new partnership between its SketchUp 3D modeling software and Anthropic’s Claude. With Trimble’s stock trading more than 20% off its one-year highs, major AI investors like Cathie Wood have been picking up shares.
Investors looking for a reasonably valued AI stock with big growth potential as their ticket to millionaire status should take a closer look at Trimble.
Today’s Change
(1.57%) $1.04
Current Price
$67.32
Key Data Points
Market Cap
$16B
Day’s Range
$65.64 – $67.39
52wk Range
$62.00 – $87.50
Volume
1.7M
Avg Vol
1.9M
Gross Margin
66.10%
John Bromels has positions in Micron Technology. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool recommends Trimble. The Motley Fool has a disclosure policy.
