10 AI Stocks Making Waves on Wall Street

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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 February 27, Morgan Stanley analyst Brian Nowak maintained a “Buy” rating on the stock and kept the price target at $280.00. Amazon’s potential for growth, particularly the launch of Alexa+, its AI-powered assistant integrating Amazon’s ecosystem and third-party applications, has led to the buy rating.

Moreover, since Alexa+ is free for Amazon Prime members, it is more likely to be adopted within the Prime membership base. Alexa+ signifies how Amazon has the potential to generate more durable and cash-flow positive growth over the coming years, which is why Nowak considers the company to be an underappreciated leader in the retail sector’s AI developments. All in all, the $280 price target signifies a 30% upside potential, highlighting the optimism around the company’s technological advancements and strategic initiatives.

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 Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

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