10 AI News Making Waves on Wall Street

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 286

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On February 10, Phillip Securities analyst Helena Wang downgraded the stock to “Accumulate” from Buy with a price target of $270, up from $240. The rating follows Amazon’s fourth-quarter results on February 6th. The firm has cited valuation concerns after its recent price increase for the downgrade. However, it still believes that the company is well-positioned to benefit from generative artificial intelligence and cloud migration “as it is still in early stage.”