13 Cheap AI Stocks to Buy According to Analysts

6. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 48

Average Upside Potential: ~18.4%

Forward P/E as of May 12: ~7.3x

HP Inc. (NYSE:HPQ) continues to position itself as a leading AI enabler, primarily in printing, personal computing, and workforce productivity, with the help of AI integration in products and services.  Jim Hin Kwong Au, an analyst from DBS, remains optimistic about the company’s stock due to several factors, including HP Inc. (NYSE:HPQ)’s strategic transformation and market positioning. As per the analyst, the company remains well-placed to capture a significant market share with the rollout of its next-generation AI PCs, featuring advanced AI capabilities and superior compatibility. Furthermore, the collaboration with Microsoft’s “Copilot+” and the usage of AMD’s Ryzen AI chips can position HP Inc. (NYSE:HPQ)’s products apart and fuel growth in the AI PC market.

Elsewhere, Fitch Ratings believes that the company’s Personal Systems offers stable revenues with upside from secular trends, including increased AI requirements and video conferencing from hybrid work environment trends. An aging of the install base and Windows refresh cycle, which has been delayed as compared to the previous cycles, and HP Inc. (NYSE:HPQ)’s inventory investments can benefit FCF for H2 2025, added the firm. Overall, the growth in the AI industry will fuel demand for HP Inc. (NYSE:HPQ)’s AI-optimized PCs, printers, and workstations as businesses and consumers upgrade their respective hardware, which can support AI-powered applications.