16 Trending AI Stocks on Latest Analyst Ratings and News

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2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 184 

Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. The stock has been hit in recent weeks after legendary investor Warren Buffett reduced his holdings in the company significantly during the second quarter of 2024. However, even as some take flight, others have been doubling down on their bets. For example, Third Point, a New York-based hedge fund led by Dan Loeb, recently revealed that it had bought nearly 550,000 shares in the tech giant. Loeb, in a letter to investors, highlighted his bullish views on the company in the field of artificial intelligence. Apple introduced Apple Intelligence earlier this year, a suite of software products designed to make Apple devices like iPhones AI capable.

Loeb underlined that Apple Inc. (NASDAQ:AAPL) would drive meaningful new demand within the installed base with the release of AI features, resulting in accelerating revenue growth on two fronts. He detailed that iPhone revenue was going to see a marked improvement because Apple Intelligence features would not be backwards-compatible with existing iPhone models, creating the conditions for a forced upgrade cycle. Furthermore, per Loeb, the App Store was likely to become the primary distribution platform for most new consumer-focused AI apps.

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