15 AI Stocks Making Waves 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 15 AI Stocks Making Waves on Wall Street. One of the biggest analyst calls on Thursday, June 12, was for Amazon. Bank of America reiterated the stock as “Buy” with a $248 price target.

The firm said that Amazon continues to innovate using AI to improve package delivery. The firm is bullish on the company’s strategic growth initiatives and operational efficiencies, with one key reason being its increased ad loads on Prime Video. These increased loads are expected to nearly double ad revenues by 2025, boosting high-margin growth.

Moreover, Amazon’s restructuring of its grocery business is also likely to boost year-over-year margin growth. Even though it has a smaller market share compared to competitors, integrating Whole Foods under its broader umbrella is viewed as a positive step towards growth and customer retention.

Finally, the company’s efforts in artificial intelligence for package delivery are destined to improve efficiency and reduce costs. There are significant savings expected from robotics as well.

“Amazon announced three AI innovations improving delivery: 1) Wellspring, an AI-powered system that collects data from dozens of sources including satellite imagery, road networks, and prior deliveries to create a comprehensive map.”

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 on Wall Street’s Radar and 10 Buzzing AI Stocks on Latest News and Ratings

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