10 Trending AI Stocks on Wall Street Right Now

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 166

Apple Inc. (NASDAQ:AAPL) is a technology company known for its consumer electronics, particularly the iPhones and MacBooks. On May 16, Wedbush reiterated the stock as “Outperform” with a $270 price target. The firm said that Apple is doubling down on its production strategy for the iPhone 17, and that its manufacturing will be centered in India and China.

“We believe that Apple could ramp iPhone assembly production in India up to 60%-65% by the Fall in a best case scenario but could easily pivot back to a China driven iPhone strategy depending on the tariff situation and deal negotiations.”

The firm praised CEO Tim Cook for managing an “unprecedented supply chain situation,” stating how the recent pause in U.S.-China tariff tensions offers Apple “a number of strategic options.” Even though Apple has massive U.S. investments, the firm sees “no chance that iPhone production starts to happen in the U.S. in the near term,” due to a “Herculean-like supply chain” and cost model. These factors have the tendency to drive iPhone prices to about $3,500.