We recently published a list of Top 10 AI Stocks Analysts Are Monitoring. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against other top AI stocks analysts are monitoring.
CNBC has recently confirmed that artificial intelligence firm Anthropic has closed its latest Series E funding round at a $61.5 billion post-money valuation. Led by Lightspeed Venture Partners, the $3.5 billion round also included investors such as Salesforce Ventures, Cisco Investments, Fidelity Management & Research Co., General Catalyst, D1 Capital Partners and Jane Street.
According to Anthropic, the latest funding shall be used to advance the development of next-generation AI, particularly to “expand its compute capacity, deepen its research in mechanistic interpretability and alignment, and accelerate its international expansion in Asia and Europe.”
READ ALSO: 10 Buzzing AI Stocks Dominating Headlines and 10 AI Stocks to Watch Now
“The latest investment “fuels our development of more intelligent and capable AI systems that expand what humans can achieve” and that “continued advances in scaling across all aspects of model training are powering breakthroughs in intelligence and expertise.”
– Krishna Rao, Anthropic’s CFO, said in a release.
The latest announcement by Anthropic follows the launch of Claude 3.7 Sonnet and Claude Code, with the former being a hybrid reasoning model and the latter being an agentic coding tool. According to Anthropic, its Claude 3.7 Sonnet has set a new high-water mark in coding abilities, setting the stage for developing AI systems that can serve as true collaborators in the future.
It further elaborated how businesses are increasingly turning to Claude to transform their operations. From Thomson Reuters’ tax platform CoCounsel using it to assist tax professionals; to Novo Nordisk leveraging Claude to reduce clinical study report writing; and even powering Amazon’s Alexa+, Anthropic is committed to leveraging artificial intelligence to help advance human progress.
Meanwhile, the Claude Code has been an early product but has been an asset for test-driven development, debugging complex issues, and large-scale refactoring. Anthropic plans to continually improve it based on its usage, with the goal of better understanding how developers use Claude for coding to inform future model improvements.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A wide view of an Apple store, showing the range of products the company offers.
Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 166
Apple Inc. (NASDAQ:AAPL) is a technology company. One of the biggest analyst calls on March 3rd was for Apple Inc. Wedbush reiterated the stock as “Outperform”, stating that it’s bullish on Apple’s partnership with Alibaba and what it means for China.
“This Alibaba partnership is key to the long-awaited growth catalyst in this region with our estimates that over 100 million of the roughly 200 million iPhones in China are in the window of an upgrade opportunity”.
Overall, AAPL ranks 3rd on our list of top AI stocks analysts are monitoring. While we acknowledge the potential of AAPL 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 time frame. If you are looking for an AI stock that is more promising than AAPL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
