Been watching the market pullbacks lately and honestly, some of the best ai stocks are getting absolutely hammered right now. ServiceNow just took a 50% hit from its January highs, and Celestica is down about 25% from November. This is exactly the kind of dip that separates patient investors from panic sellers.

Let me break down what's actually happening beneath the noise. The two things that really drive markets—earnings and interest rates—are both pointing in the right direction. AI capex spending is insane right now. We're looking at roughly $530 billion in projected capex from AI hyperscalers this year, up from around $400 billion last year. That's not slowing down either.

ServiceNow is probably the most interesting case study here. Yeah, it's down nearly 50%, which means if it returns to January levels you're looking at close to 100% upside. But here's what matters: the company just posted its fourth consecutive year of 21-24% sales growth, hitting $13.28 billion in revenue. That's more than double what they did in 2021. They're not just surviving the AI transition—they're actively partnering with OpenAI and Anthropic to bake AI directly into their platform. CEO Bill McDermott bought $3 million worth of shares recently, saying there was "no better entry point." That's the kind of signal worth paying attention to.

On the infrastructure side, Celestica is another one of the best ai stocks to watch right now if you understand what's happening behind the scenes. This company designs and builds the actual hardware—AI servers, networking switches, data center equipment—for the hyperscalers doing all that capex spending. They grew revenue 29% last year to $12.39 billion and nearly doubled their revenue between 2021 and 2025. Adjusted earnings jumped 56% last year. The guidance they gave in late January was solid: they're expecting 37% revenue growth in 2026.

The thing about these pullbacks is they're temporary. ServiceNow's already found support at its 50-day moving average and Celestica bounced off its 200-day. Wall Street has consistently shrugged off geopolitical noise over the years, and these dips tend to look like buying opportunities in hindsight.

If you're thinking about adding to positions in best ai stocks, both of these offer interesting risk-reward setups. ServiceNow's average price target suggests roughly 70% upside from here, and Celestica's at 34% upside. The market's being irrational, but that's usually when the smart money moves.