Top 10 AI Stocks Trending On Wall Street

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL) is a technology company that has recently launched Apple Intelligence, its personal intelligence system. On February 3^rd, Bank of America reiterated the stock as “Buy” with a $265 price target on Apple. Discussing tariffs, the firm said Apple can minimize the effects by shifting its iPhone components manufacturing to India. The firm remained a buy on the stock due to its stable cash flows, earnings resiliency, and the growing use of AI on edge devices, such as iPhones and iPads.

The following day, on February 4^th, Morgan Stanley reiterated the stock as “Overweight”. Analyst Erik Woodring has pointed out that Apple hasn’t taken any known actions to mitigate the 10% tariffs on goods from China. The company may be forced to raise iPhone prices, the firm noted. Based on estimates, these tariffs could equate to 3.5% headwinds on earnings per share.

“Therefore, the short answer is, barring any intervention from President Trump, Apple will be forced to pay a 10% tariff on products imported from China starting Tuesday”.

Even if the smaller production base in India is used to skirt the levy, India’s plant, which accounts for 13% of iPhone production, can’t support the 67 million iPhones Apple chips to the U.S. This is in case the tariffs have longevity, he said.