We recently released a list 10 Trends on Wall Street AI Stocks. In this article, we will explore the position of Apple Inc. (NASDAQ:AAPL) currently on other trending AI stocks on Wall Street.
U.S. President Donald Trump ended his trip to the Middle East today, reaching many high-profile deals and diplomatic exchanges with countries such as Saudi Arabia, Qatar and the United Arab Emirates (UAE).
At the last stop of the Gulf Tour, Trump signed a massive AI data center project where the two countries will work together on artificial intelligence campuses. Trump pointed out that the United Arab Emirates and the United States have agreed to the path of Gulf countries to buy advanced AI semiconductors from U.S. companies. This marks a big step forward in Abu Dhabi's efforts to become a global AI hub.
The AI agreement “includes the UAE’s commitment to investing, building or investing in U.S. data centers, at least as powerful and powerful as the UAE.”
Also read: 10 AI stocks and 9 AI stocks on Wall Street radar are expected to gain from Trump’s Middle East AI push.
Trump also pledged to strengthen ties with the United Arab Emirates, announcing an agreement with Gulf countries totaling more than $200 billion. The two countries agreed to deepen cooperation on artificial intelligence.
The United States and the UAE have agreed to establish a “US-UAE AI Acceleration Partnership” framework. Trump and Sheikh Mohamed also participated in the unveiling of the new 5GW AI campus. This will be the largest outside the United States. However, these countries do not specify that AI chips from NVIDIA or other companies can be included in the data center.
“In the UAE, U.S. companies will operate data centers and provide cloud services managed by the U.S. throughout the region. The agreement also contains strong security assurances to prevent the transfer of U.S. technology.”
In this article, we selected AI stocks by browsing news articles, stock analysis and press releases. These stocks are also popular among hedge funds. Hedge fund data ended in the fourth quarter of 2024.
Why are we interested in stocks that hedge funds to accumulate? The reason is simple: Our research shows that we can beat the market by mimicking the top stocks of the best hedge funds. Our strategy for quarterly newsletters selects 14 small and large stocks every quarter, returning 373.4% since May 2014, beating its benchmark by 218 percentage points (See more details here).
Enjoy the broad vision of the Apple store, showing the range of products the company offers.
Number of hedge fund holders: 166
Apple (NASDAQ: AAPL) is a technology company known for its consumer electronics, especially iPhones and MacBooks. On May 16, Wedbush reiterated the stock as "outperforming the market" with a price target of $270. The company said Apple is doubling its iPhone 17 production strategy, with its manufacturing industry concentrated in India and China.
“We believe that in the best case, Apple can assemble iPhones in India at a fall and produce up to 60%-65% but can easily return to China-driven iPhone strategies based on tariffs and deal negotiations.”
The company praised CEO Tim Cook for managing “an unprecedented supply chain situation” and noted how the recent pause in the U.S.-China tariff tensions have provided Apple with “many strategic options.” Although Apple has a lot of U.S. investment, due to “Heckley-like supply chains” and cost models, the company believes that there is no chance of iPhone production in the near term. "These factors tend to increase the iPhone price to $3,500.
Overall, AAPL Ranked fifth On our list of popular AI stocks on Wall Street now. While we acknowledge AAPL’s potential as an investment, our belief lies in the commitment to believe that certain AI stocks have higher returns and limited downside risks. If you are looking for AI stocks that are more promising than AAPL and have 100x upside potential, check out our report Cheapest AI stocks.
Read the next article: Buy 20 Best AI Stocks Now and According to the billionaire, there are now 30 best stocks.
Disclosure: None. This article was originally published in Inside monkey.