Top 10 AI Stocks Trending On Wall Street

1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Investors: 235

Meta Platforms, Inc. (NASDAQ:META) is a global technology company. On February 4, Meta was revisited by a Wall Street analyst, Sachin Mittal from DBS, who maintained his Buy rating on the stock with a $750 price target. Mittal’s buy rating stems from Meta’s strong financial performance and strategic initiatives. The company surpassed market expectations in terms of earnings and revenue growth, driven by reduced legal losses and strong performance from its Reels initiative. Reels are a form of short, vertical video format advertising that has achieved growth in monetization and user engagement. They leverage artificial intelligence and machine learning to boost content recommendation abilities and targeting capabilities. Besides the robust performance from Reels, the company’s investment in AI technologies, particularly the Llama large-language model, has also demonstrated growth and is anticipated to drive further user engagement and advertising efficiency. Further justifying the buy rating is Meta’s focus on Metaverse and a favorable profit outlook.

While we acknowledge the potential of META 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 META but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

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