11 AI Stocks On Wall Street’s Radar

3. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 234

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses. On May 19, Bernstein analyst Mark Shmulik maintained a “Hold” rating on the stock with an unchanged price target of $185.00. The analyst noted that Alphabet holds a promising market position with strategic initiatives in technology, particularly artificial intelligence. However, the company is also facing its fair share of challenges. A major obstacle for the company is the competitive landscape in which it operates, particularly with major players such as Apple. This landscape is making it challenging to capture market share and developer interest. Moreover, a moderate growth trajectory implies growth potential for the company, but it is not as robust as investors may have anticipated. This is why the firm has opted for a cautious approach toward the stock.