35 Trending AI Stocks on Latest Analyst Ratings and News

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 308   

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. Truist analyst Youssef Squali recently raised the price target on the stock to $265 from $230 and kept a Buy rating on the shares. The advisory detailed that Amazon’s North America revenue was tracking to consensus estimates, reflecting a resilient consumer, sustained growth in advertising revenue, faster growth at Web Services and higher operating margins year-over-year. This came even as the company invested aggressively in artificial intelligence, AWS, logistics and Project Kuiper, the advisory told investors in a research note. Truist said Amazon remained its favorite mega cap as the company continued to gain share of global e-commerce and improved its value proposition to both merchants and consumers. It was also one of the best ways to play cloud, AI, digital ads and global logistics, contended the advisory, which moved the price target to fiscal 2025 from 2024.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ: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 timeframe. If you are looking for an AI stock that is more promising than Amazon.com, Inc. (NASDAQ:AMZN) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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