ChatGPT Stock Portfolio: Top 5 Picks

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) is back with a vengeance as the company’s Google I/O event recently demonstrated the powerful capabilities of its AI systems. Forced by Microsoft into the competition, Alphabet Inc. (NASDAQ:GOOG) plans to integrate AI in search and across its products suite. However, analysts are still in the wait-and-see mode on how Alphabet Inc. (NASDAQ:GOOG) would save the biggest source of its revenue stream: search advertising.

Alphabet Inc. (NASDAQ:GOOG) shares are up about 31% year to date through May 13, which is impressive given the hammering the stock suffered earlier this year after Microsoft Corporation (NASDAQ:MSFT)’s onslaught and the initial embarrassments the company had to face during the first demo of Bard.

Diamond Hill Large Cap Strategy made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2023 investor letter:

“We did have several strong performing stocks this quarter. Our top contributors to return included NVR, Amazon, Alphabet Inc. (NASDAQ:GOOG), Microsoft and Booking Holdings, all of which posted double-digit gains. Shares of media and technology giant Alphabet outperformed as the company announced expense discipline while continuing to invest in its core products of Google Search, YouTube and Google Cloud.”