Top 10 AI News Updates You Should Not Miss

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3. TE Connectivity PLC (NYSE:TEL)

Number of Hedge Fund Holders: 44

TE Connectivity PLC (NYSE:TEL) designs and manufactures cutting-edge connectors and sensor components for industries including automotive, aerospace, defense, medical, and energy. The company is integrating AI into its engineering workflows to optimize product designs and accelerate product deployments in markets. TE Connectivity PLC (NYSE:TEL) also manufactures highly-engineered backplane, OTB, power, and internal cabled connectors for data centres and AI applications.

On January 23rd, Truist trimmed the firm’s price target to $163 from $165 and retained a “Hold” rating on the stock following its Q4 results. Analyst William Stein wrote that TE Connectivity PLC (NYSE:TEL) showcased robust execution with decent margins as its AI projects lifted performance. However, the brokerage was concerned about the drag on the auto business and adverse FX impacting results.

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