5 Stocks That Will Make You Rich Over the Next 3 Years

​4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 265

Alphabet Inc. (NASDAQ:GOOGL) is one of the Stocks That Will Make You Rich Over the Next 3 Years. Recently, on June 22, Jefferies reiterated a Buy rating on Alphabet Inc. (NASDAQ:GOOGL) with a $445 price target. The stock has fallen around 11.6% over the past 30 days, and Jefferies noted they took this opportunity to reassert their bullish conviction on the stock.

​The firm identified three reasons behind the stock’s decline. Firstly, several high-profile executive departures have rattled sentiment. Second, investors have been rotating out of Magnificent Seven names ahead of anticipated frontier AI lab listings. Third, Alphabet’s valuation multiple has simply come down from elevated levels.

​Jefferies noted that they expect the executives’ theme to persist as a long-term theme as top AI talent remains scarce in the industry. However, the firm noted the company’s long history in AI and its deep internal talent pool as a durable buffer against that risk. Beyond talent, the firm highlighted Alphabet’s massive distribution network, accelerating Cloud growth, and its vertically integrated TPU chip advantage as key pillars supporting the bullish case.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that operates Google services such as search engines, ad platforms, Internet browsers, devices, mapping software, app stores, video streaming, and more. The company also offers cloud infrastructure and platform services, collaboration tools, and other services for enterprise customers, as well as healthcare-related services and internet services.