We recently compiled a list of 15 AI news not to be missed. In this article, we’ll take a look at where DocuSign, Inc. (NASDAQ:DOCU) stacks up to other AI stocks.
The chip wars between the United States and China have dominated headlines in the AI space in recent weeks. After the United States announced new restrictions on exports of advanced AI chips to China, the Asian country responded by announcing that it had banned exports to the United States of critical minerals gallium, germanium and antimony, which have many military applications. Some of the banned minerals, such as gallium and germanium, are used in semiconductors, while germanium is also used in infrared technology, fiber optic cables and solar cells. Others, like antimony, are used in bullets and other weapons, while graphite is the largest component by volume in electric vehicle batteries.
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According to the Reuters news agency, the move raised further concerns that Beijing could then target other key minerals, including those with even wider use, such as nickel or cobalt. China has also blocked some purchases from chipmaker Micron, citing security concerns. Chipmaker Intel is reportedly the next target, following comments from the China Cybersecurity Association that the U.S. company has consistently harmed the country’s security and national interests and that its products sold in China should be subject to a security examination.
Learn more about these developments by accessing 30 The Most Important AI Stocks According to BlackRock And Beyond Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analyzes and press releases. These stocks are also popular among hedge funds. Why are we interested in stocks that hedge funds are piling into? The reason is simple: our research has shown that we can outperform the market by imitating the stocks selected by the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A software engineer in front of a computer screen, typing code to create the company’s electronic signature software.
Number of hedge fund holders: 42
DocuSign, Inc. (NASDAQ: DOCU) provides electronic signature software in the United States and internationally. It recently launched Docusign AI, a tool that helps businesses transform static, unstructured deal data into insights and actions using AI tools. On Dec. 3, JPMorgan analyst Mark Murphy raised the stock’s price target from $50 to $70 and maintained an underweight rating on the shares ahead of the third-quarter report release tax. The notice expects the company to report continued progress on operational improvement, which will likely be supported by commentary on the relative stability of underlying demand trends and positive early indications on new product initiatives. These trends could continue to support a possible acceleration in underlying organic growth trends over the medium term, the analyst tells investors in a research note.