Top 10 AI Stocks in the Spotlight on Wall Street

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1.  Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 156

Apple Inc. (NASDAQ:AAPL) is one of the Top 10 AI Stocks in the Spotlight on Wall Street. On September 26,  BofA Securities analyst Wamsi Mohan reiterated a Buy rating on the stock with a $270.00 price target. According to the firm, carrier incentives such as those offered by T-Mobile and Verizon make iPhones more affordable for customers through bundled financing options and extended payment plans.

Carriers are offering $100 more in subsidies compared to last year which offsets the iPhone 17 Pro’s higher base price of $1,099 (256GB storage) versus the iPhone 16 Pro at $999 (128GB storage).

According to T-Mobile, iPhone activations have grown by double-digits. Verizon also reported strong upgrade activity in its existing base which it believes may carry through.

“Carrier incentives allow iPhones to be more affordable as they 1) bundle iPhone financing (can make the phone itself free with eligible trade-in, under select plans) with telecom services under one monthly payment, and 2) spread out the cost of the iPhone over 24/36 months. This year, subsidies for the new iPhone 17 series are higher by $100 vs. last year to cover the iPhone 17 Pro’s higher base price (iPhone 17 Pro starts at $1,099 with 256GB storage, vs. iPhone 16 Pro at $999 with 128GB storage). As per T-Mobile mgmt., iPhone activations are up double digits (new and existing customers). Verizon mgmt. commentary also suggests strong upgrade activity in its existing base during the quarter, which we believe could carry through to the iPhone launch. Recent lead times indicate the iPhone 17 shipment times are more extended vs last year, while Pro and Pro Max are similar to last year.”

Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the potential of AAPL 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 AAPL and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 AI Stocks Every Investor Should Watch and 10 Buzzing AI Stocks on Wall Street

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