5 Best Artificial Intelligence Stocks to Buy for 2021

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In this article we discuss the 5 best artificial intelligence stocks for 2021. If you want to read our detailed analysis of the AI industry, go directly to 10 Best Artificial Intelligence Stocks for 2021.

5. Alphabet Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 157

Alphabet Inc. (NASDAQ: GOOG) is a California-based multinational technology company that is most famous for search engine Google. The company was one of the first technology firms to appreciate the power of artificial intelligence by establishing DeepMind in 2010, a research laboratory dedicated to artificial intelligence. The company has also restructured itself around artificial intelligence in recent years, with AI-driven programs in the automobile, smartphone, healthcare, and semiconductor businesses. 

The company has a market cap of more than $1.52 trillion and posted a revenue of more than $182 billion in December 2020. New York-based market research firm Argus Research last week raised its price target on Alphabet to $2500 from $2400. Joseph Bonner, an analyst at the research firm, said that the company had recovered well from the COVID-19 slump and also won a copyright case against a rival, which bode well for the future. Alphabet Inc. is placed 5th on our list of top 10  best artificial intelligence stocks to buy for 2021.

Chris Hohn’s TCI Fund Management is one of the 157 hedge funds tracked by Insider Monkey having stakes in GOOG at the end of the fourth quarter. The fund owns over 2.95 million shares of the company. Based on our calculations, GOOG ranks 6th in our list of the 30 Most Popular Stocks Among Hedge Funds: 2020 Q4 Rankings.

Weitz Investment Management, in their Q4 2020 investor letter, mentioned Alphabet Inc. (NASDAQ: GOOG). Here is what Weitz Investment Management has to say about Alphabet Inc. in their Q4 2020 investor letter:

“Despite mounting regulatory scrutiny, Alphabet was the Fund’s largest contributor for the year. The stock rose materially as Google’s digital advertising businesses continued to chug along.”

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