We recently published a list of 14 AI News and Ratings That Wall Street Is Watching. In this article, we are going to take a look at where Symbotic Inc. (NASDAQ:SYM) stands against other AI news and ratings that Wall Street is watching.

The United States government recently announced fresh curbs targeting the chip industry in China. Per a report by news platform Al Jazeera, this is the third crackdown on American chip business with China in three years. The latest measures include curbing exports to 140 companies, including chip equipment maker Naura Technology Group, the report underlined. It added that the new rules also hit Chinese chip toolmakers Piotech, ACM Research, and SiCarrier Technology. According to the report, new export restrictions are part of the package, which also takes aim at shipments of advanced memory chips and chips tools to China.

Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.

The updated sanctions package includes curbs on China-bound shipments of high bandwidth memory chips. These chips are critical for high-end applications like AI training. The US has also introduced export curbs on chip making equipment made in countries such as Singapore and Malaysia. Through these measures, introduced just a few days before President-elect Donald Trump takes charge at the White House, the US aims to limit Chinese access to chips that can help advance artificial intelligence for military applications, or otherwise threaten US national security.

READ ALSO: 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.

For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. 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).

A warehouse automation system in operation, with robotic arms managing inventory efficiently.

Symbotic Inc. (NASDAQ:SYM)

Number of Hedge Fund Holders: 15 

Symbotic Inc. (NASDAQ:SYM) is an automation technology company that engages in developing technologies to improve operating efficiencies in modern warehouses. The AI business focuses on automating supply chain and warehouse operations. On December 2, Northland lowered the price target on the stock to $35 from $53 and kept an Outperform rating on the shares after the company announced they are delaying their 10K as they are further having to fix FY24 reported numbers and lowered Q1 of FY25 revenue guidance to 36% growth and EBITDA guidance to 75% growth.

Overall, SYM ranks 12th on our list of AI news and ratings that Wall Street is watching. While we acknowledge the potential of SYM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SYM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.