10 AI Stocks Catching Wall Street’s Attention

1.  Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 339

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 March 20, Citizens JMP analyst Nicholas Jones reiterated a Market Outperform rating and $285.00 price target on Amazon.com (NASDAQ:AMZN). The rating follows news that Amazon is eyeing an expansion in the used car market.

While Amazon is reportedly going after an expansion in the used car market space, its AI-powered self-driving subsidiary, Zoox, has simultaneously encountered a setback. A probe had been opened by the National Highway Traffic Safety Administration into Zoox’s self-driving system in May due to a braking issue that caused two rear-end collisions, injuring motorcyclists. In response, the company has agreed to recall 258 vehicles due to issues with its automated driving system. Even though a software update fixed the issue, Zoox agreed to the recall “in light of NHTSA’s position and in the interest of promoting transparency.”

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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