10 Trending AI Stocks on Wall Street

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1.  Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 328

Amazon.com, Inc. (NASDAQ:AMZN) is one of the 10 Trending AI Stocks on Wall Street. On July 10, Citizens JMP analyst Andrew Boone raised the price target on the stock to $285.00 (from $250.00) while maintaining a “Market Outperform” rating.

Firm analysts are of the view that Amazon’s AWS opportunity remains underappreciated.

 “With reach across 100M + U.S. households, supported by a best-in-class logistics network, and ever-widening selection, we believe Amazon’s ability to offer ever faster delivery can continue to unlock demand for additional retail categories and retail growth. This retail network fuels Amazon’s consumer data which is a key driver of its advertising business that we believe can continue to take share given Amazon’s growing CTV business. Last, and maybe most important, we believe AI is a key driver of digital transformation and that AI can help drive AWS growth to accelerate, as the AWS opportunity remains underappreciated, in our view.”

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: 10 AI Stocks Getting Wall Street’s Attention and 12 AI Stocks Making Waves on Wall Street. 

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