We recently published a list of 10 AI Stocks to Watch on Latest News and Analyst Ratings. In this article, we are going to take a look at where AppLovin Corporation (NASDAQ:APP) stands against other AI stocks to watch on latest news and analyst ratings.
AI discussion boards online are buzzing with a new development where tech experts are pointing to a possible plateauing of performance in artificial intelligence applications.
CNBC’s Deirdre Bosa in a latest program quoted tech investor Ben Horowitz, who said in a recent podcast that he’s not seeing performance improvement despite increasing GPUs.
“We’re increasing GPUs at the same rate, but we’re not getting the intelligence improvements at all out of it.”
OpenAI is reportedly facing similar problems with its upcoming AI model.
“The Information reports that the quality increase in OpenAI’s upcoming advanced model, Orion, is smaller than the jump seen between the last two flagship models, GPT-3 and GPT-4. In other words, generational advancements may have peaked as the models are essentially running out of data to train on,” Bosa said.
While the next jump in AI performance is far away in the future, the possibilities this technology has unlocked based on the existing data and resources are keeping investors and Wall Street analysts busy.
READ ALSO: Jim Cramer’s Latest Lightning Round: 11 Stocks to Watch and Jim Cramer on AMD and Other Stocks.
In this article we take a look at top AI stocks trending on the back of latest news and analyst ratings. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
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Number of Hedge Fund Investors: 54
AppLovin Corp (NASDAQ:APP) shares are trending after the company posted strong quarterly results and received praise from Wall Street.
Daiwa Securities raised its price target after the mobile technology company posted stronger-than-expected third-quarter results.
Analyst Jonathan Kess upgraded AppLovin Corp (NASDAQ:APP) to “outperform” from “neutral,” citing management’s effective execution since the introduction of Axon 2.0 in the first quarter of 2023. “Growth of 20-30% is achievable in the mobile gaming sector alone as AppLovin Corp (NASDAQ:APP)’s AI continues to improve, driving company and market expansion,” Kess noted, adding that recent tech upgrades from Q3 2024 have long-term growth potential. He pointed to fresh opportunities in e-commerce and connected TV, expected to contribute revenue in fiscal 2025, while Street estimates remain conservative, suggesting further upside. AppLovin Corp (NASDAQ:APP)’s position as a market leader stands out as its peers face distractions or a lack of focus on mobile gaming, alleviating prior concerns about growth peaking.
