5 Best AI Stocks for 2022

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 195

Alphabet Inc. (NASDAQ:GOOGL), the largest AI company in the world, provides online advertising services internationally. The California-based tech giant operates Google Cloud and Google Services such as YouTube, Google Play, Chrome, and Android.

Alphabet Inc. (NASDAQ:GOOGL) develops a wide range of AI products and services, including its self-driving car company, Waymo. It’s behind DeepMind, and Google Duplex, an AI voice interface. In early November, Alphabet Inc. (NASDAQ:GOOGL) announced the launch of Isomorphic Labs, an AI-powered drug discovery firm spun out of DeepMind.

On November 2, a Morgan Stanley analyst maintained an Overweight rating on Alphabet Inc. (NASDAQ:GOOGL) with a price target of $3,200. Overall, 195 funds of the 867 elite funds tracked by Insider Monkey reported owning stakes in Alphabet Inc. (NASDAQ:GOOGL) at the end of September 2021, up from 190 in the preceding quarter. The total value of these stakes is $28.6 billion.

Here is what Saturna Capital Amana Funds has to say about Alphabet Inc.  in its Q3 2021 investor letter:

Alphabet was a new addition to the Fund this year, as we believed it important to have exposure to the top online media and advertising company in the world. Some have raised concerns surrounding Alphabet’s exposure to political interference, but we take comfort from the belief that were the company to be broken up, it would quite likely be worth even more than as a single entity.”