Yes, but officially per Colt, who were the first to sell the “AR-15” commercially, it stands for Automatic Rifle. Some of them even say it on the side.
It's interesting that Colt retained a product name developed by ArmaLite; it was certainly early enough in the game for them to call it whatever they wanted and "reinvent" the rifle if they desired. I guess the suits at Colt liked the original name and thought it would sell (and they were correct).