We recently compiled a list of the 15 AI News Investors Should Not Miss. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against the other AI stocks investors should not miss.
On October 31, CNBC’s Steve Kovach joined ‘Money Movers’ to discuss big tech’s AI spending. Kovach observes that, apart from ChatGPT, no other AI product has achieved a breakthrough, despite ongoing efforts from many companies. Currently, most of the money is going to chip makers and cloud businesses, and there is no evidence of meaningful sales or engagement around AI products that people may want to use every day. Kovach’s observation implies that tech giants continue to invest heavily in foundational AI advancements and that high-engagement consumer products may still have time to launch. Additionally, many of these big tech companies have reported that they will continue to step up their already high spending on AI infrastructure.
READ ALSO: 15 AI News You Should Not Miss and Top 10 Trending AI Stocks in Q4.
For many like Kovach, OpenAI represents the leading and most mainstream AI breakthrough, with each of its moves highly anticipated. After all, the company is widely credited for bringing artificial intelligence tools into widespread use. In its latest breakthrough, OpenAI has launched “ChatGPT Search”, the company’s new search engine, positioning the high-powered AI startup to compete with search engines like Bing, Perplexity, and Google. This search feature within ChatGPT provides up-to-the-minute sports scores, stock quotes, weather, and more, driven by real-time web searches and partnerships with news and data providers.
“I find it to be a way faster/easier way to get the information I’m looking for. I think we’ll see this especially for queries that require more complex research. I also look forward to a future where a search query can dynamically render a custom web page in response!”
– Sam Altman said in a Reddit AMA on Thursday.
In a notable advancement towards more accessible AI products and services, SpotAI, a leader in AI camera systems, announced the launch of its Video AI Agents. The announcement strives to bring agentic AI capabilities from the digital to the physical world. These agents assist organizations in identifying and resolving incidents, offering measurable ROI in sectors such as manufacturing, education, retail, and automotive services; all without the need for human intervention.
In a similar development within the AI landscape, OSARO, a global leader in machine-learning-enabled robotics for high-volume fulfillment centers, has launched OSARO AutoModel. The OSARO AutoModel allows robots to automatically learn and adapt to new items, processes, and workflows with zero downtime; unlike previous robots that need updating for new SKUs.
Continuing the trend of leveraging artificial intelligence in our increasingly AI-driven world, Bolster, a leader in multi-channel phishing protection, announced on Thursday its newest feature called Bolster AI Security for Email. The Bolster AI Security for Email automates the analysis and mitigation of cyber threats reported through customer abuse mailboxes. The new feature combines crowdsourced customer reports and AI-driven automation to protect brands from fraud schemes in real-time.
Our Methodology
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.
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 275% since May 2014, beating its benchmark by 150 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: 184
Apple Inc. (NASDAQ:AAPL) is an American technology company known for its consumer electronics, software, and services. Apple is considered a very important AI stock, having integrated artificial intelligence and machine learning in every aspect of its ecosystem.
On October 30, Apple Inc. (NASDAQ:AAPL) announced the new MacBook Pro, powered by the M4 family of chips — M4, M4 Pro, and M4 Max. Built for Apple Intelligence (Apple’s personal intelligent system), the new MacBook Pro is designed to transform how users work, communicate, and express themselves, all while protecting their privacy. The 14-inch MacBook Pro is available in space black and silver finishes, and includes blazing-fast performance of M4 and three Thunderbolt 4 ports, starting with 16GB of memory, for $1,599. Meanwhile, the 14- and 16-inch models with M4 Pro and M4 Max offer Thunderbolt 5 for faster transfer speeds and advanced connectivity. The new MacBook Pro is now available for preorder, with availability beginning November 8.
“MacBook Pro is an incredibly powerful tool that millions of people use to do their life’s best work, and today we’re making it even better. With the powerful M4 family of chips, and packed with pro features like Thunderbolt 5, an advanced 12MP Center Stage camera, an all-new nano-texture display option, and Apple Intelligence, the new MacBook Pro continues to be, by far, the world’s best pro laptop.”
-John Ternus, Apple’s senior vice president of Hardware Engineering.
Overall AAPL ranks 3rd on our list of the AI stocks investors should not miss. 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 timeframe. 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.
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Disclosure: None. This article is originally published at Insider Monkey.