American Politicians are Buying These 5 AI Stocks

4. Apple Inc (NASDAQ:AAPL)

Number of Hedge Fund Investors: 131

Apple Inc (NASDAQ:AAPL) shares are falling as the company faces growth challenges when it comes to iPhone sales. While not a top AI stock for now, many analysts believe Apple Inc (NASDAQ:AAPL) would reveal its AI projects this year. Apple Inc (NASDAQ:AAPL)  recently acquired French artificial intelligence startup Datakalab, according to a report from French news outlet Challenges.

While Apple Inc (NASDAQ:AAPL) has seen heavy selling from American Congress members recently, the stock was bought by some politicians in early 2024. For example, Congressman Pete Sessions on February 29 bought just $360 worth of Apple Inc (NASDAQ:AAPL) shares. On January 10 Senator Tommy Tuberville bought Apple Inc (NASDAQ:AAPL) shares worth between $1,000 to $15,000. Since then the stock is down 10%.

Ithaka US Growth Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its first quarter 2024 investor letter:

“Apple Inc. (NASDAQ:AAPL) is a global consumer electronics and software company that designs and markets mobile communications devices (iPhones), personal computers (Macs), multi-purpose tablets (iPads), and wearables (Apple Watch, AirPods, and Accessories). The company also sells several high-margin consumer services including Advertising, AppleCare, Cloud Services, Digital Content and Payment Services. The stock’s underperformance during the quarter was due to fears that the company’s slowing top-line growth and increased competitive threats make the stock’s premium valuation harder to justify.”