16 Trending AI Stocks on Latest Analyst Ratings and News

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5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. Even with notable investments in AI infrastructure, as well as the rollout of multiple AI features for Google customers, the company has still managed to top analyst estimates on earnings. In the first half of the year, the firm posted 14% growth in revenue on a year-on-year basis. The cloud segment of the tech giant achieved 29% revenue growth and 11% profit margins during the time. The company has previously announced that it would be spending nearly $50 billion in capital expenditures for the year, a large chunk of which is expected to go towards AI-focused product offerings and data centers.

Following the second quarter earnings report, Alphabet Inc. (NASDAQ:GOOG) received bullish calls from Wall Street. Stifel analyst Mark Kelley raised the price target on the stock to $199 from $196 and kept a Buy rating, detailing that the company reported revenue and operating income ahead of expectations with continued strength in Search and a slight beat in Google Cloud, though YouTube growth slowed relative to Q1. The analyst further added that the AI commentary of the management was encouraging.

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