18 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. Ahead of the launch event of the new iPhone, reports indicate that the company has placed orders for the assembly of around 90 million units of the new phone, ten million more than last year. The increase in orders might stem from the expected growth in sales for these phones that will be shipped with Apple Intelligence, a suite of AI features that Apple has been aggressively marketing over the past few months. Experts, like Dan Loeb of Third Point, believe the new AI features will lead to stronger up cycles for new launches. Apple Intelligence features are not compatible with older phones and might compel customers to faster upgrades.

Wall Street analysts have also weighed in on these developments regarding Apple Inc. (NASDAQ:AAPL). For example, Morgan Stanley analyst Erik Woodring has an Overweight rating on the stock with a price target of $273. In a recent investor note, the analyst highlighted that Apple Intelligence remained the key to unlocking pent up iPhone demand and accelerating the replacement cycle. The analyst expects the launch event to heavily feature AI integration on the new iPhone 16.

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