Cloud Hosting

Machine learning could be a $528.1 billion market by the time 2030 rolls around,according to Statista. From there,Precedence Research says it could be worth more than $771.32by 2032. All creating big opportunities for machine learning stocks.

All as companies flock to the technology that involves showing data to a machine so it can learn and even make predictionslike a humanwith things such as facial recognition, product recommendations, financial accuracy, predictive analytics, medical diagnoses, and speech recognition just to name a few.

Look at healthcare, for example.

According to BuiltIn.com,Healthcare professionals usewearable technologyto compile real-time data, which machine learning can quickly process and learn from. Thats why the United Sates Food and Drug Administration has been working to integrate ML and AI intomedical device software. Machine learning is also helping to speed up the drug discovery process, organize patient data, and even help personalize treatments.

From there, the skys the limit.As these technologies continue to advance and mature, they are expected to have a transformative impact on various industries, shaping the way businesses operate, make decisions, and deliver value to customers,added Grand View Research.

That being said, investors may want to consider investing in some of the top machine learning stocks, including:

Source: Ascannio / Shutterstock.com

The last time I mentionedNvidia(NASDAQ:NVDA), it traded at $700 a share onFeb. 22.

I noted, I strongly believe its headed to at least $1,000, even $1,500 this year. All thanks to its dominance with artificial intelligence and machine learning, where its graphic processing units.

While its not up to $1,000 just yet, it did hit a high of $967.66. Thats not a bad return in about a month. From here, though, it could easily see $1,000.

Helping, the company recently launched its most powerful chips theGrace Blackwell 200 Superchips, which will continue to strengthen NVDA dominance with machine learning. We also have to consider the companys H100 GPUs have been the very backbone of cloud AI programs. Even its DRIVE platform uses machine learning to deliver autonomous vehicle navigation.

Even better, analysts at UBS just raised their price target on NVDA to $1,100. The firm noted NVDA sits on the cusp of an entirely new wave of demand from global enterprises and Sovereigns, as noted by Business Insider.

Source: Ascannio / Shutterstock.com

We can also look at machine learning stocks, likePalantirTechnologies (NYSE:PLTR), which designs programs that rely on machine learning to make decisions.

Most recently, the companywon a $178 million TITAN contractwith the U.S. Army. TITAN, or the Tactical Intelligence Targeting Access Node (TITAN), is the Armys next generation deep-sensing capability enabled with artificial intelligence and machine learning, as noted in a PLTR press release.

Helping, analysts at Wedbush raised their price target to $35 from $30, with an outperform rating. With the AI Revolution now quickly heading towards the key use case and deployment stage, Palantir with its flagship AIP platform and myriad of customer boot camps is in the sweet spot to monetize a tidal wave of enterprise spend now quickly hitting the shores of the tech sector in our opinion,said the firm, as quoted by Seeking Alpha.

Earnings havent been too shabby either. In its most recent quarter, the company beat expectations with EPS of eight cents on revenue of $608.35 million. Thats comparable to estimates of eight cents on $602.88 million revenue. U.S. commercial revenue jumped 70% to $131 million, while its customer list grew by 55% to 221.

Source: Sergio Photone / Shutterstock.com

Or, if youre rather diversify with 43 companies involved with artificial intelligence and machine learning, theres theGlobal X Robotics & Artificial Intelligence(NASDAQ:BOTZ).

With an expense ratio of 0.69%, the BOTZ ETF invests in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence (AI), including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles,as noted by GlobalXETFs.com.

Some of its top holdings include Nvidia,Intuitive Surgical(NASDAQ:ISRG),ABB Ltd. (OTCMKTS:ABBNY),SMC Corp. (OTCMKTS:SMCAY), andUiPath Inc.(NYSE:PATH) to name just a few.

While the BOTZ ETF already ran from a recent low of $22.63 to a high of $31.94, theres still further upside remaining. In fact, with the AI and machine learning boom showing no clear signs of slowing, the BOTZ ETF could easily see $40 near term. Also, whats nice about the BOTZ ETF is we can gain exposure to massive companies, like NVDA, for less than $32 a share.

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

Original post:
3 Machine Learning Stocks That Could Be Multibaggers in the Making: March Edition - InvestorPlace