20 Trending AI Stocks on Latest News and Analyst Ratings

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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 company recently launched the latest models of the iPhone with AI features as it seeks to capitalize on growing AI interest in the smartphone business. However, with pre-orders for the new phones down from last year and Chinese firms offering the new models at a discount due to soft demand, it seems like Apple Intelligence, a suite of AI features that come preloaded on the new iPhones, have not been enough to revive the slowing demand for the Apple phones. Apple Intelligence will be available on new devices in English later this year, with support for other languages coming next year.

Demand for new Apple Inc. (NASDAQ:AAPL) phones have slowed in China amid increased competition in the Chinese market, which is the largest smartphone market in the world. Apple is competing with Chinese firms like Huawei for phone supremacy. Last week, Huawei unveiled a Z-shaped trifold phone Mate XT just a few hours after Apple launched the iPhone 16 models. The phone shipments for the former have soared 41% year-over-year in the second quarter of 2024, as those for the latter dipped by about two percentage points in the same period.

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