In this article, we will take a detailed look at the Top 10 Trending Stocks Everyone’s Watching in Q4.

AI bubble warnings are growing on Wall Street as major technology companies continue to pour billions into AI projects and partnerships. Investors are now looking to upcoming tech earnings to see if these companies remain committed to their heavy AI spending plans.

AZ-VC Managing Partner Jack Selby said in a recent interview on Bloomberg that there’s a lot of “breathless storytelling” in the AI space where companies are making big promises. The analyst warned that the AI bubble could pop and wipe out billions of dollars from Wall Street. However, he believes there will be many companies that will end up being successful in the AI boom.

“I think there will be companies that when the dust settles, will survive and do quite well. And I’m sure OpenAI has a good chance of being one of those companies and many other prominent companies as well. But at the same time, there will be many, many other companies that will just not survive.”

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10. Ventas Inc (NYSE:VTR)

Number of Hedge Fund Investors: 43

Morningstar’s Dave Sekera said in a latest program on Schwab Network that investors are not paying attention to non-AI stocks as their focus remains on growth. The analyst warned that incessant focus on AI and growth could come at a cost

“I’m really thinking that as a long-term investor trying to switch gears, look for those other areas of the marketplace that have been left behind, other areas that do have some good themes behind them like the real estate market, but yet really just no one in the market is paying attention to any of these value names. Everyone’s still all about growth, which I think will probably be to their detriment over time.”

Sekera said he likes healthcare REIT Ventas Inc (NYSE:VTR).

“If you look at like some of the healthcare REITs, so Ventas Inc (NYSE:VTR) is one that we’ve been highlighting recently. You know, four-star rated stock, 12% discount, trading with a very nice, you know, dividend yield.”

Diamond Hill Mid Cap Strategy stated the following regarding Ventas, Inc. (NYSE:VTR) in its Q1 2025 investor letter:

“As volatility picked up sharply in the quarter, we were active in the portfolio — and we anticipate that as volatility continues into Q2, we will likewise attempt to capitalize on compelling opportunities to reposition the portfolio for the period ahead. We initiated four new positions in Q1: Martin Marietta Materials, Ventas, Inc. (NYSE:VTR), Illumina and TransUnion.

Ventas is a diversified health care real estate investment trust (REIT) focused on private-pay senior housing — primarily independent and assisted living — as well as outpatient medical offices and research/life sciences. The demographics around senior housing are compelling over the medium term: The 80+ age cohort in the US is rapidly growing, while senior housing is limited, which should drive years of strong growth as the industry recovers from oversupply and post-COVID weakness. We anticipate occupancy should improve meaningfully, while pricing is likely to remain solid as senior care is a needs-based business. At approximately 85% occupancy, a facility generally requires full staffing, making additional tenants beyond that occupancy level significantly higher margin. We also don’t anticipate significant new facility development — and even when it starts, it could take some time before annual new construction catches up with demand. Further, recently weaker fundamentals among competitors could create attractive acquisition opportunities for Ventas. Finally, the company’s operating platform and pricing software should bring institutional sophistication to a business that has long been tech-averse, giving it a significant and growing competitive advantage. Given we don’t believe the valuation adequately reflects these advantages, we initiated a position in Q1.”

9. Bristol-Myers Squibb Co (NYSE:BMY)

Number of Hedge Fund Investors: 67

Morningstar’s Dave Sekera said in a recent program on Schwab Network that BMY is one of the top deep value stocks today. The analyst mentioned the stock’s dividend yield and valuation:

“Well, one of the kind of biggest deep value names today is going to be in healthcare, and that’s Bristol-Myers Squibb Co (NYSE:BMY). So, it’s a five-star rated stock. That’s our highest rating, trading at a 33% discount to fair value. Nice big fat dividend yield at 5.6%. And the name trades at under eight times our earnings estimates this year. Now, they do have some difficulties. They do have a number of patents that will be coming off expiration in the next couple years. We’ve already incorporated that into our modeling. But when we look at their pipeline, we don’t think the market is giving them really any credit for their existing pipeline. Any of those were to hit in the next couple years or if they get like some label expansion on some of their existing drugs, we think that there’s a lot of value in that name.”

PGIM Jennison Health Sciences Fund stated the following regarding Bristol-Myers Squibb Company (NYSE:BMY) in its second quarter 2025 investor letter:

“Bristol-Myers Squibb Company (NYSE:BMY) is a global pharmaceutical company focused on discovering, developing, and marketing drugs across multiple therapeutic areas, including Cardiovascular Disease, Oncology, Hematology, and Immunology. BMY currently has three key mega-blockbuster franchises that will lose patent expiry over the next decade: Revlimid which started facing limited generic competition in 2022 and will face full generic entry in 2026; Eliquis, which was part of the first round of Inflation Reduction Act (IRA) negotiations last year, with price cuts effective on Jan 1, 2026, and will face generic entry in 2028/29; and Opdivo, which faces biosimilar competition starting in 2029, although BMY aims to preserve part of the franchise with the recent launch of a subcutaneous formulation that eliminates the need for an Intravenous (IV) infusion. We initiated a position in BMY last spring as the stock seemed deeply undervalued and we had above market expectations for their neuropsychiatric Cobenfy, the main asset acquired in the Karuna deal. We took profits earlier in 2025 as the stock had rallied and closed much of the valuation disconnect; we subsequently sold more well above current levels as we were skeptical about recent readouts due to concerns over trial design, bringing us underweight the name. Our skepticism was borne out with a pair of negative updates on Camzyos and Cobenfy, and coupled with a slightly disappointing quarter, these updates have caused the stock to decline. We exited the last of our position following 1Q earnings.”

8. Wells Fargo & Co (NYSE:WFC)

Number of Hedge Fund Investors: 75

Stephanie Link, Hightower Advisors chief investment strategist and portfolio manager, said in a recent program on CNBC that she believes there’s more upside for Wells Fargo.

“I think there is more upside in Wells Fargo & Co (NYSE:WFC). I happen to own Wells Fargo because I think again as they invest more in their business, as they can grow their deposits across many different lines of business, they will see more profitability and market share, and so that’s why I think that one is quite interesting.”

Mairs & Power Balanced Fund stated the following regarding Wells Fargo & Company (NYSE:WFC) in its second quarter 2025 investor letter:

“Wells Fargo & Company (NYSE:WFC) outperformed as the expectation of a recession has diminished and a trend toward deregulation should benefit the banking and payments sectors. Wells Fargo further benefited as several consent decrees, which outline specific reforms and improvements, were lifted by various regulators. The most impactful of these was the Fed’s restriction on growth, which was unprecedented and lasted seven years. With these restrictions being largely lifted, the company is now in a much better position for future growth.”

7. Advanced Micro Devices Inc (NASDAQ:AMD)

Number of Hedge Fund Investors: 113

Stacy Rasgon, Bernstein U.S. semiconductor managing director and senior analyst, said in a recent program on CNBC that AMD CEO Lisa Su signed a deal with OpenAI to “be on the rocket ship” of the Sam Altman-led company.

“The Advanced Micro Devices Inc (NASDAQ:AMD) one raises a little more eyebrows. AMD actually gave OpenAI they gave them equity like in return for being allowed to sell them stuff. Although I kind of understand that as well. Like a AMD I mean Lisa has to be on the OpenAI rocket ship. It really is OpenAI and Altman that’s driving a lot of this. And if Advanced Micro Devices Inc (NASDAQ:AMD) is not there, they completely lose out. So Lisa had to get on that rocket ship as any way she could. She bought her ticket. It’s working. Like I’m not going to knock them. Like their is going up. But I would read that in some sense in terms of like the relative competitiveness of the products. It’s like nobody else had to, you know, give up something in return for the privilege of selling to.”

Macquarie Core Equity Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its second quarter 2025 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD) designs and manufactures semiconductors, including central processing units (CPUs), graphics processing units (GPUs), and other high-performance computing solutions for various markets like gaming, data centers, and AI. The company currently maintains a small market share for GPUs used for AI applications though by 2027, we believe the company will have product on par with the market leader, NVIDIA. Hyperscale customers with deep programming expertise may increasingly decide to dual-source high-end chips leading to much larger revenue and profit gains in coming years for AMD than investors currently expect.”

6. Broadcom Inc (NASDAQ:AVGO)

Number of Hedge Fund Investors: 156

Stacy Rasgon, Bernstein U.S. semiconductor managing director and senior analyst, said in a recent program on CNBC that the AI rally is expected to continue and he doesn’t see a downturn or “air pocket” even in 2027. The analyst said he continues to like high-quality semiconductor stocks, including Broadcom Inc (NASDAQ:AVGO).

“There’s a lot of cross investments and things like that where it’s sort of tying them all together. They’ll all, you know, sink or swim, I guess in one piece at some point. In terms of, you know, what we’d like, my general call this year has mostly been own the high quality AI names and ignore most of the rest. And by and large, like that’s kind of worked. Like we’ve liked Nvidia, we’ve liked Broadcom. You know, I still think that the AI cycle, I think we’re still early. I think it’s still got legs and all of these new deals that we’ve been seeing announced, you know, they actually I think have the effect of extending it even longer. Most of these don’t even start to ship until the end of next year. So, if you’re worried about, you know, air pockets or digestion or anything like that, it’s clearly not this year. It doesn’t seem like it’s next year. And if these big projects don’t even start to ship until the end of next year, it’s probably not 2027 either. I think we’ve got some runway on this still. So, we still like those high quality AI names.”

Polen Focus Growth Strategy stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its third quarter 2025 investor letter:

“In early August we initiated positions in both NVIDIA and Broadcom Inc. (NASDAQ:AVGO), after having not owned either company over the past 2½ years following the initial wave of enthusiasm around Gen AI. While we have long admired both companies, their highly cyclical business models have made it extremely difficult to forecast future earnings growth with any degree of conviction. Given our approach of seeking durable and persistent earnings growth that compounds over long holding periods, our concern in holding either was that we would be forced to endure a punishing downcycle within our typical holding period – there is very little room that in a concentrated portfolio of 20-30 companies. In fact, pre ChatGPT, NVIDIA had two punishing down cycles over the preceding five years.

That is specifically what has occurred for NVIDIA and Broadcom. While the sheer magnitude of demand for AI chips, servers and networking equipment was something that we clearly underappreciated, new incremental data points over the past few months lead us to conclude the current boom in AI chips and related hardware will likely continue for the foreseeable future giving us greater conviction over the trajectory of future earnings for both NVIDIA and Broadcom.

Broadcom is the other major player in the AI chip market, the number one provider of custom chips, and currently receives the majority of the remaining 10c of every dollar being spent by enterprises. As Gen AI use cases mature, and as inference workloads become a bigger piece of the compute pie, we expect that custom chips (and Broadcom’s in particular) will account for a larger share of the total market. …” (Click here to read the full text)

5. Alphabet Inc (NASDAQ:GOOG)

Number of Hedge Fund Investors: 178

Stacy Rasgon, Bernstein U.S. semiconductor managing director and senior analyst, was recently asked on CNBC about his thoughts on concerns of an AI bubble. The analyst said he remains on the bullish side of the AI trade and explained that companies are already starting to see returns on their investments. Rasgon gave the example of Alphabet during the discussion:

“You have to remember the folks that are building this stuff out. And this is one other difference maybe from say 2021. The companies that are doing the bulk of the spending are some of the most well-funded and most profitable businesses that humanity has ever developed. And they’re not idiots, right? And they can see things that we can’t. And they’ve also got other businesses that they’re running this stuff through that they’re already getting returns on. Google’s getting returns on the stuff that is getting returns.”

Oakmark Equity and Income Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its third quarter 2025 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) was the top contributor during the quarter. The technology conglomerate’s stock price appreciated following a favorable ruling in the Google Search antitrust case and second-quarter earnings that exceeded expectations across the board. Innovations in the Google Search experience are driving both engagement and revenue benefits. Moreover, Cloud growth is accelerating thanks to robust demand for AI workloads. We continue to believe Alphabet is undervalued on a sum-of-the parts basis and see potential for the company’s AI leadership to drive further upside across the portfolio.”