Top 10 AI Stocks on Wall Street’s Radar

7. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 60

Cisco Systems, Inc. (NASDAQ:CSCO) is an American technology company that provides information technology and networking services. On January 6^th, Melius analysts upgraded Cisco Systems, Inc. (NASDAQ:CSCO) from Hold to Buy with a price target of $73.00. Ben Reitzes, Melius Research’s head of technology research, joined CNBC’s ‘Money Movers’ to discuss the firm’s upgrade of Cisco. He stated that Cisco was an underperformer last year, but believes that the company has turned the corner since networks for enterprises are getting ready for artificial intelligence.

The company’s advancements in optics and silicon technologies demonstrate upside in the hyperscaler market and the company’s security business is also getting better. Reitzes further stated that it’s a cheap stock and that it will get a bit of the AI halo effect. In data centers, the firm believes that networking content is going to go through the roof which will benefit Cisco as well.  Firm analysts anticipate increased spending by hyperscalers and enterprise IT in 2025. However, most of the gains might come later in the year and extend into 2026. Reitzes also stated that excitement around AI may slow down in the third year, but the AI industry is only getting started.