We recently published a list of 10 Buzzing AI Stocks This Week. In this article, we are going to take a look at where Hewlett Packard Enterprise (NYSE:HPE) stands against other buzzing AI stocks this Week.
Paul Hickey, Bespoke Investment Group co-founder, said while talking to CNBC in a latest program that despite the market gains still concentrated in a few names, he's bullish short and long term because of AI.
"The longer term play is the AI trade. This is an AI bull market. Every bull market has a theme, and ChatGPT was to AI what Netscape and AOL were to the internet."
Hickey also mentioned the possible scenario where market gains would start to broaden out.
"ChatGPT didn't invent AI; it made it tangible for consumers and businesses, just like Netscape with the internet. It caused, you know, made it a lot more practical on the part of businesses and the consumer. So I think in that respect, there's a lot more investment to go, and we've seen the infrastructure stocks in AI benefit. But even just last week, some of these software names -- and we're going to slowly start to see that broaden out to the rest of the economy."
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Talking about Hewlett Packard Enterprise (NYSE:HPE)'s latest results during a program on CNBC, Jim Cramer said he liked the quarter:
"I like the quarter very much. I think Antonio Neri is doing a terrific job. One thing people should recognize is that a lot of this comes from their AI business. They mentioned $6.7 billion in cumulative orders since Q1 for the fiscal year and a backlog of AI systems worth $3.5 billion."
However, Cramer pointed to something he found "cryptic" in the earnings call:
"There was also something cryptic mentioned -- they said they debooked a large order, $700 million, during the same quarter due to concerns with a specific customer. Everyone is now scrambling to figure out who that customer is."