11 AI Stocks Shaking Up Wall Street Today

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 25, Bernstein reiterated Amazon, along with Walmart and Costco, as “Outperform.” The firm believes these names are the best positioned in e-commerce in a choppy macro.

“We generally view the likes of AMZN, WMT, and COST as the best positioned to ride a macro storm given the combination of a defensive category mix, relative value, and membership lock-in that comes with each platform. In some ways, an extension of what we’ve seen in recent years.”

Several analysts are bullish on Amazon stock not only because of its strategic positioning in the market, but also because of its massive growth potential. On March 24, Monness analyst Brian White maintained a “Buy” rating on the stock, backed by the potential of Amazon Web Services or AWS, to capitalize on long-term trends in artificial intelligence. The company has already reaped benefits from generative AI, particularly from training large language models, and growth drivers are expected to boost this further.

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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