10 AI Stocks Making Waves on Wall Street

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL) is a technology company that has recently launched Apple Intelligence, its personal intelligence system. One of the biggest analyst calls on Monday, February 3^rd, was for Apple Inc. Bank of America reiterated the stock as “Buy” with a $265 price target on Apple. The firm believes that the tech giant can survive the effects of U.S. President Donald Trump’s 10% tariff on Chinese imports considering that it has shifted its manufacturing of iPhone components to India. The firm estimates that 80% of the iPhones sold in the US could be sourced outside of China.

“Most iPhone models can now be manufactured in India,” said BofA analysts, led by Wamsi Mohan, in a Monday investor note. “As the new tariff is imposed on imports from China, Apple could have its manufacturing partners’ ramp up production in India and ship to the U.S. This could also be done for other Apple products that are manufactured in countries including Vietnam, Malaysia, etc.”

The firm remains a buy based on Apple’s stable cash flows, earnings resiliency, and the growing use of AI on edge devices, such as iPhones and iPads.

“Maintain Buy on stable cash flows, earnings resiliency & potential beneficiary of AI use on edge devices.”