5 Best Stocks to Buy Now for a $1 Million Portfolio

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1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 147

On May 11, Fox Advisors analyst Steven Fox upgraded Uber Technologies, Inc. (NYSE:UBER) to Outperform from Equal-Weight and set a $95 price target on the shares. The analyst said Uber’s heavier pace of investment over the past year appears “poised to more consistently contribute to profit growth.” Fox also said the company may have just “topped off” its strategy by expanding into hotel bookings, acquiring parking marketplace SpotHero, and taking other strategic steps to position its rideshare platform for what he described as a hybrid autonomous rideshare future.

During Uber’s Q1 2026 earnings call, Chief Executive Officer Dara Khosrowshahi said gross bookings increased 21% year over year, while the company’s audience expanded 17%. He also noted that Mobility gross bookings accelerated to 20% and reached record margins during the quarter.

According to Khosrowshahi, Delivery revenue rose 23%, supported mainly by growth in grocery and retail. He added that Uber’s freight business returned to growth for the first time in nearly two years. Khosrowshahi further stated that non-GAAP EPS increased 44% from the prior year. He also said the company returned a record $3 billion to shareholders through share buybacks during the quarter. He highlighted Uber’s growing scale as well, noting that the company surpassed 50 million Uber One members and 10 million drivers and couriers worldwide.

Uber Technologies, Inc. (NYSE:UBER) operates a technology platform designed to move people and goods from point A to point B. The company’s platform supports a range of services across its Mobility, Delivery, and Freight segments.

While we acknowledge the potential of UBER to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than UBER and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 14 Best Dividend Stocks to Buy for Steady Growth and 10 Best Robinhood Stocks to Buy According to Billionaires.

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