10 AI Stocks Making Waves on Wall Street

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 159

Apple Inc. (NASDAQ:AAPL) is one of the 10 AI Stocks Making Waves on Wall Street. On June 30, MoffettNathanson reiterated the stock as “Sell” as the firm braces for a difficult earnings report for Apple in late July.

The firm cited several issues leading to the sell rating, ranging from tariffs and China discounting to AI strategy and even the potential fallout from regulatory rulings.

“In the U.S., it appears that our anticipation of a pull-forward of demand to beat potential price increases on Apple (NASDAQ:AAPL) products in response to tariffs has been borne out,”

The firm said this, noting that iPhone unit volumes in April and May were up double digits year over year. However, they noted that the revenue may not keep up due to weaker average selling prices.

Apple’s AI positioning, meanwhile, may be promising, but it is still seen as “rudderless in AI.”

“It seems to us, though, that greater uncertainty ought to mean lower multiples. And given the asymmetry of the risks, we’d argue for lower estimates, as well. To date, the market has supplied little of either.”