10 Stocks That Will Skyrocket

Published October 31, 2023 at 5:42 pm EDT Updated September 7, 2026 at 12:06 pm EDT

In this article, we will take a look at the 10 stocks that will skyrocket.

Investors remain anxious about the Fed’s next move and the upcoming policy decision as they continue to process consumer data to get hints on inflation’s trajectory. While everything in the market has been volatile, one thing that’s constant is the AI frenzy. The AI boom that started with the launch of ChatGPT has no end in sight and it seems companies are just getting started on this front.

Noah Blackstein, senior portfolio manager at Dynamic Funds, recently said while talking to CNBC that AI will transform American businesses that are using the technology to reduce costs and increase productivity. The portfolio manager said that any company using AI to boost efficiency will see success. Blackstein said he’s “never seen anything like AI before” in terms of ROI, return on productivity and cost savings.

Blackstein said that AI is a secular growth opportunity. He specifically named Snowflake Data Cloud (NYSE:SNOW) and MongoDB (MDB) and said the next successful tech wave will come from data centers, chip companies and software developers.

“This is the next transformation in technology, but it’s going to have applications in retail, in healthcare, in industrials, and in energy. This is probably a multi-decade and certainly a multi-year phenomenon,” Blackstein said.

Amid the raging AI wave, many stocks are set to skyrocket in the coming months and years. In this backdrop it’s interesting to see what stocks analysts believe can touch new highs.

For this article we scoured mainstream financial media news outlets and Reddit investing communities to see which stocks retail investors, institutional investors and analysts believe can skyrocket in the next few years. Analysts, institutional and retail investors seem to have a consensus around the ability of some stocks to skyrocket. We went with those names for this article.

Luis Louro / shutterstock.com

Stocks That Will Skyrocket

10. CRISPR Therapeutics AG (NASDAQ:CRSP)

Number of Hedge Fund Holders: 30

Gene editing platform company CRISPR Therapeutics AG is one of the top stocks that will skyrocket in the next 5 to 10 years according to mainstream financial media and credible analysts. The stock’s one-year average price estimate is $88.

As of the end of the second quarter of 2023, 30 hedge funds out of the 910 fund in Insider Monkey’s database had stakes in Crispr. The biggest stakeholder of the company was Catherine D. Wood’s ARK Investment Management which owns a $412 million stake in the company.

9. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Number of Hedge Fund Holders: 44

Average analyst price estimate for Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is $201, while the stock is trading at $124 as of October 31. Jazz Pharmaceuticals stock could jump significantly in the next few years on the back of its strong pipeline. Earlier in October Bloomberg reported that Jazz Pharmaceuticals plc (NASDAQ:JAZZ) was in talks to discuss strategic alternatives, including sale. Should the company decides to sell itself and strikes a deal, the stock could skyrocket. If it does not go ahead with a sale, the stock could still jump to higher levels albeit slowly.

As of the end of the second quarter of 2023, 44 hedge funds tracked by Insider Monkey had stakes in the company.

Aristotle Capital Global Equity Strategy made the following comment about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its Q3 2023 investor letter:

“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).

Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…

Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…”

8. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 79

Tesla, Inc. (NASDAQ:TSLA) is the leader in the EV industry, which is rising and thriving amid a major shift from traditional engines to EVs. Cathie Wood of ARK Invest believes Tesla stock could reach $2000 by 2027.

A total of 79 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Tesla. The biggest stakeholder of the company was Cathie Wood which had a stake over $1 billion in the company.

Baron Partners Fund made the following comment about Tesla, Inc. in its Q2 2023 investor letter:

“Many factors contributed to the strong performance of our largest Disruptive Growth position, Tesla, Inc., in the period. Investors’ concerns regarding Tesla in 2022 continue to dissipate, and the company’s business has continued to grow materially, although at below peak margins. Tesla’s deliveries in China are recovering. The company’s newest factory in Texas has ramped production and should contribute to improved domestic sales and margins. U.S. government policies have lowered the cost to own Tesla vehicles, while also reducing the company’s battery production expenses.

We continue to believe that Tesla is only scratching the surface of its potential. We regard announced partnerships between Tesla and its competitors in the quarter as important. In early June, Tesla agreed to provide Ford Motors access to Tesla’s electric vehicle (EV) charging technology and network. Other traditional and pure EV manufacturers, including General Motors, Rivian, and Volvo, quickly followed suit. We expect additional charging partnerships to ensue. In our view, these relationships validate Tesla’s charging technology and infrastructure as superior to other standards. Consolidation around a single technology should accelerate charging infrastructure deployment, diminish the risk of Tesla’s technology becoming obsolete, and lessen a key concern of hesitant EV purchasers. EV adoption is at a tipping point. And Tesla, with its approximately 60% domestic market share of EVs, should be the most important beneficiary of this shift…”

7. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 112

Analysts believe Advanced Micro Devices, Inc. (NASDAQ:AMD) could quickly catch up with Nvidia’s pace in the AI-based chips industry. Recently, media reports said that Advanced Micro Devices, Inc. and Nvidia could launch ARM-based chips as early as 2025. Some analyst believe America’s curb on exports to China would directly affect Nvidia, creating new opportunities for Advanced Micro Devices, Inc.. Analysts are also praising the company’s new Zen 4c architecture processors. They believe the new chips would allow the company to compete against Intel and Nvidia.

Artisan Global Opportunities Fund made the following comment about Advanced Micro Devices, Inc. in its Q2 2023 investor letter:

“Among our top contributors were Advanced Micro Devices, Inc., NU Holdings and Netflix. AMD’s data center CPUs are used in the cloud service provider (CSP) servers. In addition to the broader secular tailwind from cloud adoption, the company has a performance and pricing advantage over Intel, which we believe will enable it to continue capturing market share. However, the recent stock price rally was due to growing excitement around the company’s AI exposure. It will launch its new MI300 graphics processing unit (GPU) chip later this year to compete against the dominant market leader NVIDIA. Similar to its approach that won market share from Intel within the CPU market, AMD’s product will aim to provide similar performance at a more attractive price. AMD is already working with Microsoft and Meta, while Amazon publicly stated that it is evaluating AMD’s inferencing chips. Using assumptions around the total GPU market size, potential market share gains and price points, our research indicates this could be a $20 billion opportunity for AMD. That would nearly double its revenue. While the company has not historically missed many deadlines, there is execution risk as it works to manufacture and distribute these complex chips at scale, which, combined with an elevated valuation after the stock’s strong performance run, led us to trim the position.”

6. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 112

Some believe Alibaba Group Holding Limited (NYSE:BABA) shares have become undervalued amid the stock’s consistent underperformance due to crackdowns and restrictions in China. However, Alibaba remains one of the biggest retailers in the world and its fundamentals are strong.

L1 Long Short Fund made the following comment about Alibaba Group Holding Limited in its second quarter 2023 investor letter:

“Alibaba Group Holding Limited (Long -18%) shares weakened in recent months as Chinese reopening strength faded and macro-economic datapoints began sequentially declining. Nevertheless, we believe the Chinese government will use consumption as a key lever to reinvigorate the economy post-COVID lockdowns. Alibaba remains a high-quality business with leading positions in both eCommerce and Public Cloud, and management is taking proactive steps to unlock shareholder value. It has announced plans to split into six major business groups – Cloud Intelligence, Taobao Tmall, Local Services, Global Digital, Cainiao Smart Logistics and Digital Media, and Entertainment Group. Each group will be managed independently, with a separate CEO and board, have the flexibility to raise external capital and potentially pursue separate IPOs. We believe this restructure will be a strong positive catalyst to unlock the sum-of-the-parts valuation upside in the company.”

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 135

Apple is one of the top stocks analysts believe are expected to double in the next 5 to 10 years because of its massive foray into software, services and apps. Apple is always innovating and chances are the company will come up with more streams of income to cut its reliance on its flagship device iPhone, which is still posting strong sales.

As of the end of the second quarter of 2023, 135 hedge funds out of the 910 funds tracked by Insider Monkey reported owning stakes in Apple. The biggest stakeholder of the company was Warren Buffett’s Berkshire Hathaway which has a $178 million stake in the company.

Aristotle Large Cap Growth Strategy made the following comment about Apple Inc. (NASDAQ:AAPL) in its Q3 2023 investor letter:

“Apple Inc. (NASDAQ:AAPL) contributed to outperformance in the third quarter, as a result of the underweight position relative to the benchmark. Following a very strong first-half performance, the stock saw a pullback ahead of the iPhone 15 launch, as investors weigh the potential growth from the new phone in the face of macroeconomic headwinds and slowing consumer spend.”

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175

Nvidia shares were falling on October 31 amid worries related to new export rules regarding China that can bar US companies from exporting chips to the country. While these rules could affect Nvidia in the short-term, the long-term, AI-driven catalysts for the company remain strong as it is enjoying a near monopoly in the AI industry because of its specialized chips.

As of the end of the second quarter of 2023, 175 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in the company. The biggest stakeholder of the company was GQG Partners of Rajiv Jain which had a stake worth about $6 billion in the company.

Artisan Developing World Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:

“Our focus on scalable business models has its roots in our economic framework. As potential output moderated in most emerging countries, it became clear to us affordability was not improving and that low penetration was necessary but not sufficient for value creation. We eliminated companies from the portfolio that were struggling to generate revenue significantly in excess of fixed costs, often replacing them with passport companies such as NVIDIA Corporation and Airbnb that were economically tied to emerging markets. Over a period of time, we have been successful in redefining the emerging markets opportunity set around real per capita GDP increases, growth in the middle class, revenue velocity and demand fulfilment. Combined with changes in the market backdrop that have resulted in privileged competitive positions for companies with financial strength and access to capital, we find our opportunity set expanding anew to include companies that are both based in emerging markets and conducive to value creation.”

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 204

Alphabet shares could skyrocket in the future since the company has a diverse revenue stream, ranging from ads, Cloud, self-driving unit, futuristic projects, video, among many others. The company is investing heavily to evolve amid the changing landscape in the search industry. The company recently posted Q3 results. GAAP EPS in the period came in at $1.55, beating estimates by $0.10. Revenue in the period jumped 11.1% year over year to $76.79 billion, surpassing estimates by $980 million.

Madison Sustainable Equity Fund made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

“Alphabet Inc. continued to act well during the third quarter. Google’s second quarter was better than expected and showed both ad stabilization as well as progress on its cost structure. We continue to like Google’s position in Artificial Intelligence (AI), which it has been investing in and using across its core Search business, YouTube, and its ad quality systems. Google’s Cloud business is also expected to benefit as businesses expand their use of generative AI.”

2. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 225

Huge investments in AI, dominance in the social platforms industry and innovative advertising models remain some of the key catalysts that could boost Meta Platforms stock to higher levels in the next 5 to 10 years. Recently the company posted strong Q3 results. The stock, however, wavered, mainly due to the company’s commentary after the earnings in which the management sounded “cautious,” according to many analysts. This cautious approach, according to analyst firms like Jefferies and William Blair, was mostly due to the latest geopolitical conflicts and macro environment that could affect the company’s ads demand. However, in the long term the stock remains solid.

Aristotle Large Cap Growth Strategy made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:

“Meta Platforms, Inc., formerly known as Facebook, is a global technology company specializing in social networking and the development of augmented and virtual reality technologies. Founded in 2004 and headquartered in Menlo Park, CA, the company has expanded its reach to nearly three billion monthly active users worldwide.

We see Meta as well-positioned to capture a significant share of the rapidly growing digital advertising market and has created an interconnected ecosystem of apps that drives higher user engagements. While leveraging AI and machine learning technology, Meta should see an acceleration in the development of targeted digital advertising capabilities and enhance the user experience across its platform. We see near-term catalysts in Rising Reels and Messenger revenue monetization and an expected robust 2024 political and Olympic advertising. Year-to-date, investors have been optimistic about the company’s pivot away from a focus on metaverse investments to an emphasis on profitability and growth in what the company calls its “Year of Efficiency.””

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 278

Analysts believe Amazon stock could double in the next 5 to 10 years because of its growth in AWS business and e-commerce business, along with other forays such as streaming and healthcare. Amazon recently posted third quarter results. EPS in the third quarter came in at $0.94 crushing estimates of $0.60. Revenue in the period jumped 12.6% year over year to $143.1 billion, beating estimates by $1.54 billion.

As of the end of the second quarter of 2023, 278 hedge funds tracked by Insider Monkey had stakes in the company.

White Falcon Capital Management made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc., and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

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