5 Most Advanced AI Companies

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1. Apple Inc. (NASDAQ:AAPL)

Market Capitalization as of 12/5: $2.33 trillion

Number of Hedge Fund Holders: 140

Apple Inc. (NASDAQ:AAPL) ranks #1 on our list of best AI stocks given its market capitalization of $2.33 trillion. In terms of artificial intelligence, Apple Inc. (NASDAQ:AAPL) uses AI to power its personal assistant for iPhones, Siri. Apple Inc. (NASDAQ:AAPL) is also using AI to make an autonomous driving car that the company plans to launch in 2024 or later. For the fiscal 2022 year, Apple Inc. (NASDAQ:AAPL) spent $26.25 billion in R&D.

Wedgewood Partners commented on Apple Inc. (NASDAQ:AAPL) in a Q3 2022 investor letter,

Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as software, continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.

140 hedge funds owned shares of Apple Inc. (NASDAQ:AAPL) at the end of Q3.

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