These 12 AI-Related Stocks Went Up 21% In May; Now Up 42% YTD

Sixty-six artificial intelligence (AI) or AI-related stocks have market capitalizations of $2B or more;  21 of them participated in the major price advancement (up 26%, on average) during the month of May and are now +53%, on average, YTD. Nine of those went up in excess of 53%, on average, during May, ranging from 129% to "just" 32% and are now +117%, on average, YTD, and we detailed their performances in yesterday's article entitled These 9 Artificial Intelligence Stocks Went Parabolic (+50%, On Average) In May.

As promised, today's article reviews the performance of the other 12 best performing AI stocks. They "only" went up 21%, on average, in May, ranging from 16% to 29%, with an average increase of 42%, YTD. They are listed below in descending order, as to their performances in May and YTD:

  1. Broadcom Inc. (AVGO): UP 29.0% in May; UP 44.5% YTD
    • Market Capitalization: $339B
  2. Tesla, Inc. (TSLA): UP 24.1% in May; UP 65.6% YTD
    • Market Capitalization: $585B
  3. Synopsys, Inc. (SNPS): UP 22.5% in May; UP 42.5% YTD
    • Market Capitalization: $69B
  4. Integral Ad Science Holding Corp. (IAS): UP 20.2% in May; UP 116.1% YTD
    • Market Capitalization: $3B
  5. Netflix, Inc. (NFLX): UP 19.8% in May; UP 34.0% YTD
    • Market Capitalization: $160B
  6. ServiceNow, Inc. (NOW): UP 18.6% in May; UP 40.3% YTD
    • Market Capitalization: $112B
  7. Palo Alto Networks, Inc. (PANW): UP 18.5% in May; UP % YTD
    • Market Capitalization: $66B
  8. Applied Materials, Inc. (AMAT): UP % in May; UP 54.2% YTD
    • Market Capitalization: $113B
  9. Lam Research Corporation (LRCX): UP 17.7% in May; UP 46.7% YTD
    • Market Capitalization: $83B
  10. Taiwan Semiconductor Manufacturing Company Limited (TSM): UP 17.0% in May; UP 32.4% YTD
    • Market Capitalization: $456B
  11. Bentley Systems, Incorporated (BSY): UP 16.0% in May; UP 33.6% YTD
    • Market Capitalization: $15B
  12. ASML Holding N.V. (ASML): UP 15.6% in May; UP 34.7% YTD
    • Market Capitalization: $288B

As of the close of the markets on Friday, June 2nd, the average price of the above 12 stocks remained unchanged.

Will the trend continue or are AI stocks in a bubble that could get pricked at ant time? We will keep track of the ongoing trend and report back to you in periodic articles going forward.

Summary

The above 12 stocks were UP 20.6% in May, on average, and are now UP 42.3% YTD as of May 31st, 2023.

If you would prefer to invest in an ETF as opposed to an individual stock check out Global X Artificial Intelligence & Technology ETF (AIQ) which includes the above 12 stocks plus an additional 78. It was only up 9.7% in May and is only UP 30.0% YTD. This indicates that the vast majority of AI stocks did not participate in the parabolic move in prices in May and that the ETF was dragged down in value YTD due to the preponderance of much poorer price performances than that of the 21 AI stocks I have highlighted in today's and yesterday's articles.


More By This Author:

These 9 Artificial Intelligence Stocks Went Parabolic (+50%, On Average) In May
Summary Of 6 Conservative "Cannabis" Stock Performances In May
May Summary Of Largest American Cannabis MSO Stock Performances

Disclosure: None

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Comments

ChristopherHansen 1 year ago Member's comment

Yesterday's article made more sense to me - how are some of these companies AI companies? You don't explain what qualifies a company to be listed. This seems like calling Coca-Cola a plastics company because they use plastic bottles.