10 AI Stocks Dominating the News This Week

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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 27, JMP Securities analyst Nicholas Jones upheld a “Market Outperform” rating on the stock with a steadfast $285.00 price target.

The firm’s rating reflects Amazon’s optimism in its advertising initiatives and their contribution to the company’s growth. According to Jones, Amazon’s expansion into retail media advertising is a natural progression, anticipating it to draw new advertisers and boost the share of retail media ad spending in advertising budgets. He further lauded Amazon’s continuous efforts to add value for its advertising customers.

Amazon has been introducing artificial intelligence (AI) powered features for its customers. Some of its notable AI-tools include AI creative studio and Audio generator, generative AI tools that aim to lower creative barriers and expand opportunities for advertisers to expand their reach. Other tools, such as AI-powered Video Generator and Image generator, further help advertisers feature their products effectively.

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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