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5 Hot Growth Stocks To Buy Now

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In this article, we discuss 5 hot growth stocks to buy now. If you want to see more hot growth stocks, go directly to 10 Hot Growth Stocks To Buy Now.

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

Revenue Growth Rate over Last 12 Months: 95.71%
3 months return: 33.01%
Number of Hedge Fund Holders: 142

Uber Technologies, Inc. (NYSE:UBER), a ride-sharing and food delivery firm, has great growth prospects for the upcoming year. In 2023, Uber (UBER 5.53%) may have both business areas working at full capacity. Uber has a 71% share of the ride-sharing industry in the United States as of 2022. The company shares have offered 33.54% returns to investors over the past month. Uber reported a 49% increase in revenue to $8.6 billion for the fourth quarter. With the ride-hailing mobility category seeing an even sharper 31% growth rate, gross bookings increased by 19% year over year.

The fundamentals of Uber also appeared stronger. The number of active platform users every month increased by 11% to 131 million. Over 2.1 billion journeys were made in total, up from 1.77 billion in the same time last year. Additionally, the firm now has access to the freight transportation market thanks to the acquisition of Transplace, which gave overall revenues a modest but quickly-rising boost.

After Uber’s Q4 earnings beat expectations, Goldman Sachs analyst Eric Sheridan increased his price target for the company to $47 from $45 on February 8 while maintaining a Buy rating for the shares. In addition, fund managers added to their Uber holdings in the third quarter. There were 142 hedge funds in our database that held stakes in Uber Technologies, Inc. (NYSE:UBER)’s at the end of the third quarter, compared to 129 funds in the third quarter. First Pacific Advisors LLC is the company’s most significant stakeholder, with 2.62 million shares worth $64.74 billion.

RiverPark Funds shared its outlook on Uber Technologies, Inc. (NYSE:UBER) in its Q3 2022 investor letter. Here’s what the firm said:

“Uber was our top contributor for the quarter on better-than-expected 2Q results, and 3Q EBITDA guidance that was well ahead of Street estimates. The company reported 33% Gross Bookings growth from both the continued recovery of Mobility Gross Bookings, up 55% year over year, and the continuation of Delivery Gross Bookings growth, up 7% year over year. Overall, revenue grew 105% year over year to $8 billion, generating $364 million of adjusted EBITDA, up $873 million year over year. Management guided to 25%-30% gross bookings growth and adjusted EBITDA of $440-$470 million for 3Q. Significantly, FCF was positive at $382 million, up $780 million year over year, and remains on track to be positive for the year allowing the company to self-fund future growth…..(Click to read the full text).”

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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