Correction or Not: This Artificial Intelligence (AI) Stock Is a Great Long-Term Bet
The tech-laden Nasdaq Composite index hit its most recent high on Dec. 16, 2024, but it has pulled back since then on account of various factors such as the tariff-fueled turmoil and a potential slowdown in artificial intelligence (AI) spending.Specifically, the Nasdaq Composite is down just over 12% since its most recent high. This puts the index in correction territory, as a stock market correction refers to a drop of 10% to 20% in a major index. However, AI adoption is currently in its early phases. Consulting firm PwC reports that the adoption of AI could boost the global economy by 15 percentage points by 2035, which is why it won't be surprising to see companies and governments continue to invest in this technology in the long run.Image source: Getty Images. Continue reading
The tech-laden Nasdaq Composite index hit its most recent high on Dec. 16, 2024, but it has pulled back since then on account of various factors such as the tariff-fueled turmoil and a potential slowdown in artificial intelligence (AI) spending.
Specifically, the Nasdaq Composite is down just over 12% since its most recent high. This puts the index in correction territory, as a stock market correction refers to a drop of 10% to 20% in a major index. However, AI adoption is currently in its early phases. Consulting firm PwC reports that the adoption of AI could boost the global economy by 15 percentage points by 2035, which is why it won't be surprising to see companies and governments continue to invest in this technology in the long run.
Image source: Getty Images.
