Forget Nvidia! 1 AI stock to buy that could rise 41%, according to Wall Street

If I’m after a stock to buy in the realm of artificial intelligence (AI), then Nvidia might seem the go-to choice. The firm currently controls around 90% of the advanced AI chip market. However, Nvidia is now a $2.2trn company, the third-largest in the world by market cap. It’ll be difficult for its share price to keep multiplying, in my view, simply due to the law of large numbers. Therefore, investors like myself chasing higher potential returns might be better off considering smaller companies. Here’s one exciting AI stock that I’ve been buying recently. The stock I’m referring to is Oddity Tech (NASDAQ: ODD). This is an AI-powered firm that sells makeup and skincare online under the fast-growing brands Il Makiage and SpoiledChild. The share price is down 30% since going public in July 2023. However, that hasn’t stopped Wall Street taking a shine to the stock. Currently, 75% of analysts covering it rate it as a ‘strong buy’. Their average price target is $51, which is 41% higher than the current share price of $36. Of course, it might never reach that target. But this does show that analysts are bullish on this unique cosmetics firm. Oddity’s business is...

Read more