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We recently published a list of 10 AI Stocks Surging on News and Ratings. In this article, we are going to take a look at where Salesforce, Inc. (NYSE:CRM) stands against other AI stocks surging on news and ratings.
According to Daniel Ives, global head of technology research at Wedbush Securities, the US- China agreement is once again creating a bull market environment for tech.
“If you are a tech investor, this is a dream scenario,” Ives noted on CNBC’s “Worldwide Exchange.”
On Monday, the U.S. and China announced that they would temporarily reduce tariffs on each other for 90 days. Following the news, Wall Street’s three major indexes surged sharply on the same day, with the S&P 500 marking its highest level since early March.
READ ALSO: 10 AI Stocks in Focus Amid U.S.–China Tariff Pause and 10 AI Stocks Making Moves This Week
The U.S. said it will cut tariffs imposed on Chinese imports to 30% from 145% while China said it would cut duties on U.S. imports to 10% from 125%. Investors saw this as a big positive surprise.
“It’s a relief rally because there was a lot of anxiety and angst about tariffs between the U.S. and China. They are going to scale it down to much more reasonable levels so the fall-out from tariffs will probably be more manageable and limited.”
Unfortunately, the rally in US stock futures paused as investors focused on a key inflation report and lingering economic concerns.
“The challenges are not over. The de-escalation was a lot stronger than even the best hopes, but you have to remember that the US economy still faces average of effective tariffs of more than 13%.”
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.
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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).