{"id":57130,"date":"2023-09-05T11:20:12","date_gmt":"2023-09-05T15:20:12","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/tech-and-cannabis-companies-are-worth-watching-amidst-ai-boom\/"},"modified":"2023-09-05T11:20:15","modified_gmt":"2023-09-05T15:20:15","slug":"tech-and-cannabis-companies-are-worth-watching-amidst-ai-boom","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=57130","title":{"rendered":"Tech And Cannabis Companies Are Worth Watching Amidst AI Boom"},"content":{"rendered":"<div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><strong>TL;DR<\/strong><\/h2>\n<ul>\n<li>Apple is launching new products, and investors interested in tapping into innovative companies should keep eyes on changes in tech<\/li>\n<li>Guilty pleasure stocks are looking enticing, with cannabis stocks ticking up<\/li>\n<li><strong>Top weekly and monthly trades<\/strong><\/li>\n<\/ul>\n<p><em>Subscribe to <\/em><em data-ga-track=\"ExternalLink:https:\/\/refer.tryq.ai\/F9o3fQiyLrb\">the Forbes AI newsletter<\/em><em> to stay in the loop and get our AI-backed investing insights, latest news and more delivered directly to your inbox every weekend. And <\/em><em data-ga-track=\"ExternalLink:https:\/\/refer.tryq.ai\/EOjGrwTsHyb\">download Q.ai today<\/em><em> for access to AI-powered investment strategies.<\/em><\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><strong>Major events that could affect your portfolio<\/strong><\/h2>\n<p>As per usual lately, the tech sector is keeping investors on their toes. This week, it&#8217;s ablaze with new products and ever-evolving AI.<\/p>\n<p>Investors are waiting to see what Apple will reveal at its much-anticipated Wanderlust event on September 12. Invites for the launch event circulated on social media this week, teasing new products.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>We know for a fact that the new iPhone 15 and Apple Watch Series 9 are launching at the event. Wall Street seems to often react well to Apple announcements, and the stock price reflected that this week. Only time will tell how the markets react to the aftermath of the event.<\/p>\n<p>Other tech companies are also making headlines this week for innovating with artificial intelligence. Take, for example, General Motors, which is teaming up with Google, using the AI chatbot for its in-car virtual assistant service. Alibaba also recently announced two updated AI models, Qwen-VL and Qwen-VL-Chat, putting China in the AI race.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><strong>This week\u2019s top theme from Q.ai <\/strong><\/h2>\n<p>Pick your vice. Companies that fall into the guilty pleasures categories\u2014i.e. booze, cannabis and more\u2014are in the news this week.<\/p>\n<p>While whiskey producer Brown-Forman, which makes whiskeys like Jack Daniels, Woodford Reserve and Gentleman Jack, had a rough quarter, some sales were still up. The company reported earnings of 48 cents per share, falling short of analysts\u2019 53 cents estimate, while net sales for its whiskey products decreased 1% and overall net sales fell 8%. Pre-mixed cans and tequila sales were up, however, suggesting that people may be changing up their bar carts.<\/p>\n<p>Meanwhile, cannabis sales have also been up this week. The market moves come on the heels of the U.S. Department of Health and Human Services making an impactful recommendation in a letter to the Drug Enforcement Administration. The department suggests that marijuana be reclassified as a Schedule III drug, instead of its current status of Schedule I drug (alongside drugs like heroin and LSD) under the Controlled Substances Act.<\/p>\n<p>Most of the country has already legalized marijuana for recreational use, but the reclassification of the drug could create a ripple effect in the markets. We\u2019re already seeing cannabis stocks tick up into the green this week, such as the MJ PurePlay 100 Index, which tracks stocks in the sector, cannabis cultivation and production company Goodness Growth Holdings and Columbia Care Inc, a manufacturer and provider of medical and adult use cannabis.<\/p>\n<p>Investors interested in getting in on these highs (and navigating the liquor lows) should consider diversifying their exposure to top U.S. companies in alcohol and cannabis.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><strong>Top trade ideas<\/strong><\/h2>\n<p>Here are some of the best ideas our AI systems are recommending for the next week and month.<\/p>\n<p><strong>Autozone Inc. (AZO)<\/strong> \u2013 The American retailer of aftermarket automotive parts and accessories is our <strong>Top Buy for next week<\/strong> with our AI giving them an A in our Technical, Momentum Volatility and Quality Value factors. It saw 8.2% total revenue growth over the last 12 months.<\/p>\n<p><strong>Virgin Galactic Holdings, Inc. (SPCE) <\/strong>\u2013 The spaceflight company is our <strong>Top Short for next week <\/strong>with our AI giving it an F rating in our Technical and Quality Value factors.<\/p>\n<p><strong>Brookdale Senior Living, Inc. (BKD)<\/strong> \u2013 The company, which owns and operates retirement homes across the United States is a <strong>Top Buy for next month<\/strong> with an A rating in our AI\u2019s Technical and Growth factors. The company saw 7.9% total revenue growth over the last year.<\/p>\n<p><strong>Freshpet Inc. (FRPT)<\/strong> \u2013 The American pet food company a <strong>Top Short for next month <\/strong>with our AI giving them an F rating in our Quality Value factor.<\/p>\n<p>Our AI\u2019s <strong>Top ETF trades for the next month <\/strong>are to invest in tech and robotics and to short U.S. small- to mid-cap companies and the largest U.S. equities. ARK Autonomous Technology &amp; Robotics ETF (ARKQ), SPDR S&amp;P Internet ETF (XWEB) and Vanguard Information Technology Index Fund ETF (VGT) are our <strong>Top Buys<\/strong>. <strong>Top Shorts<\/strong> are Invesco FTSE RAFI US 1500 Small Mid ETF (PRFZ) and Invesco FTSE RAFI US 1000 ETF (PRF).<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><strong>Recently published Qbits<\/strong><\/h2>\n<p>Want to learn more about investing or sharpen your existing knowledge? Qai publishes Qbits on our Learn Center, where you can define investing terms, unpack financial concepts and up your skill level.<\/p>\n<p>Qbits are digestible, snackable investing content intended to break down complex concepts in plain English.<\/p>\n<p>Check out some of our latest here:<\/p>\n<p><em data-ga-track=\"ExternalLink:https:\/\/refer.tryq.ai\/fyH0XBtc1wb\">Download Q.ai today<\/em><em> for access to AI-powered investment strategies.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/qai\/2023\/09\/05\/tech-and-cannabis-companies-are-worth-watching-amidst-ai-boomforbes-ai-newsletter-september-2nd\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Apple is launching new products, and investors interested in tapping into innovative companies should keep eyes on changes in tech Guilty pleasure stocks are looking enticing, with cannabis stocks ticking up Top weekly and monthly trades Subscribe to the Forbes AI newsletter to stay in the loop and get our AI-backed investing insights, latest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-57130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tech And Cannabis Companies Are Worth Watching Amidst AI Boom | iFintechWorld<\/title>\n<meta name=\"description\" content=\"TL;DR Apple is launching new products, and investors interested in tapping into innovative companies should keep eyes on changes in tech Guilty pleasure\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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