Wipro Ltd (NYSE: WIT) is emerging as a notable pick among penny stocks, particularly following its strategic partnership with Factory.ai on January 28. This collaboration aims to enable enterprises to operationalize agent-native development within engineering teams, utilizing AI agents for software development. Wipro plans to enhance its WEGA delivery platform, reinforcing its suite of AI-powered solutions under Wipro Intelligence. Sandhya Arun, CTO of Wipro, highlighted the shift from AI experimentation to robust production-scale adoption.
Despite a 5.5% increase in gross revenue year-over-year to $2.62 billion reported on January 16, Wipro’s earnings per share decreased by 7.2%, leading Morgan Stanley to downgrade its stock to Underweight. As a leading IT and consulting firm, Wipro offers services like cloud computing and cybersecurity across 65 countries. Investors may find more promising AI stocks with better upside potential, especially in light of ongoing market trends. For insights, refer to our report on top undervalued AI stocks.
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