10 AI Stocks on Wall Street’s Radar

Page 9 of 9

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 328

On June 2, Citizens JMP analyst Nicholas Jones reiterated a “Market Outperform” rating on Amazon.com, Inc. (NASDAQ:AMZN) with a $250.00 price target.

Discussing Amazon’s aggressive push in advertising, the analysts discussed competitive strategies from both Amazon and Google, particularly in the demand-side platform (DSP) market.

Comparing the two, they noted how Amazon is currently offering discounts on its DSP to attract marketers while Google is offering credits to advertisers who use its DV360 service for purchasing inventory on third-party Connected TV (CTV) apps.

Even though Google and Amazon benefit from owning popular platforms such as YouTube and Prime Video that offer unique inventory, The Trade Desk is also a strong competitor, owing to strong relationships and deep integrations with brands and advertising agencies.

With CTV advertising gaining momentum, the competition between companies is only expected to intensify even further. Despite the competition, analysts believe that Trade Desk’s embedded position with key industry players is a major factor that could help it maintain its market share against the tech giants’ efforts.

All in all, investors will be keeping a close eye on Amazon as it navigates the dynamic digital advertising landscape and aims to capitalize on the opportunities within the DSP and CTV markets.

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 12 AI Stocks on Latest News and Ratings and 10 AI Stocks on Wall Street’s Radar.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9