Top 10 AI Stocks to Watch Ahead of Potential Market Correction

3. Fortinet, Inc. (NASDAQ:FTNT)

Number of Hedge Fund Holders: 47

Fortinet, Inc. (NASDAQ:FTNT) provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focused on the convergence of networking and security. While it was one of the best-performing cybersecurity stocks in 2024, rallying by 70%, Raymond James downgraded the stock to Market perform from Outperform on January 14.

The downgrade came amid concerns that the firewall super cycle in network security is premature. In contrast, analysts at Pipe Sandler upgraded the stock and believe that the surge in AI spending and cybersecurity will persist. With the introduction of Lacework FortiCNAPP and FortiDLP, representing a new $20 billion market opportunity, Fortinet, Inc.’s (NASDAQ:FTNT) expanded Security Operations portfolio demonstrates its dedication to innovation. With a 32% increase in billings, the company’s AI-driven Security Operations division affirms impressive growth while accounting for just 10.5% of total revenue.