This Artificial Intelligence (AI) Stock Soared 69% in 2024, and It Could Fly Higher After Nov. 7

Artificial intelligence (AI) positively affected multiple businesses, including semiconductors, workplace collaboration software, and cloud computing. Consumers, companies, and governments are looking to make the most of this emerging technology to improve productivity.The digital advertising industry also adopted AI to allow advertisers to target their audiences more efficiently, reducing costs while increasing the return on ad dollars spent. According to Grand View Research, spending on AI tools in digital marketing could jump from $15.8 billion in 2023 to $82 billion in 2030, a compound annual growth rate of 26%.This is one reason why The Trade Desk (NASDAQ: TTD), the provider of a programmatic advertising platform, saw robust growth in its revenue and earnings in recent quarters, leading to a healthy jump of 69% in its stock price so far in 2024. The company will release third-quarter earnings on Nov. 7, and there is a solid chance that it could deliver another better-than-expected report. Let's see why that may be the case.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool