10 Trending AI Stocks on Wall Street Right Now

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

Number of Hedge Fund Investors: 235

Meta Platforms, Inc. (NASDAQ:META) is a global technology company. On May 14, Loop reiterated the stock as “Buy” and raised its price target on the stock to $888 from $695. The rating adjustment follows Meta’s stronger-than-expected second-quarter outlook, acknowledging that the firm’s revenue growth stagnation due to reduced spending by Chinese advertisers was inaccurate. Instead, artificial intelligence (AI) advancements on Meta’s platforms have compensated for any potential loss, thereby resulting in performance gains. The firm further highlighted how Meta is positioned as the leading example of a company benefiting from AI advancements, and that it expects it to outshine the Mag-7 throughout the year.

“We continue to see Meta as the best non-hardware example of tangible, right-now beneficiary of AI and think the stock will outperform the ‘mag-7’ peer group this year.”