This article presents an overview of ChatGPT Stock Predictions: 5 Stocks That Have 10X Potential. For a detailed overview of such stocks read our article, ChatGPT Stock Predictions: 10 Stocks That Have 10X Potential.
5. Palantir Technologies Inc (NYSE:PLTR)
Number of Hedge Fund Investors: 44
ChatGPT believes Palantir Technologies Inc’s (NYSE:PLTR) “innovative approach” in data analysis could give it a boost in the future. As of the end of the fourth quarter of 2023, 44 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Palantir Technologies Inc (NYSE:PLTR). The most significant stake in Palantir Technologies Inc (NYSE:PLTR) is owned by D. E. Shaw which had a $356 million stake in Palantir Technologies Inc (NYSE:PLTR).
Carillon Scout Mid Cap Fund stated the following regarding Palantir Technologies Inc. (NYSE:PLTR) in its fourth quarter 2023 investor letter:
“Second was another technology stock, Palantir Technologies Inc. (NYSE:PLTR), which rallied earlier in the quarter before pulling back. Sentiment remains positive on Palantir as it has successfully rolled out a new marketing effort called “boot camps” where customers can demo the company’s new artificial intelligence platform (AIP) product. These events have been popular with potential clients, and in many cases it has been reported that customers can develop an artificial intelligence use case in just a few hours. The stock rallied as some expected this successful marketing effort could translate into faster revenue growth. Palantir also landed the coveted National Health Services account in the UK, long rumored, but the delay in the award had weighed on investor sentiment.”
4. Sea Ltd (NYSE:SE)
Number of Hedge Fund Investors: 51
Sea Ltd (NYSE:SE) is a Singapore-based conglomerate with gaming and payments businesses, among other segments. The stock has gained about 37% this year. It is one of the stocks with 10X potential according to ChatGPT stock predictions. The AI chatbot said Sea Ltd’s (NYSE:SE) “growth trajectory” could lead to “substantial returns.”
Lakehouse Global Growth Fund stated the following regarding Sea Limited (NYSE:SE) in its fourth quarter 2023 investor letter:
“Meanwhile, the largest detractor was Sea Limited (NYSE:SE) (-17.1%), which sold off following the release of its quarterly results where earnings came in below expectations. For our part, while a headline drop in profitability can appear worrying, we aren’t overly concerned as it was merely a function of management’s intentional decision to increase investment towards e-commerce to drive growth. As the broader Southeast Asian e-commerce market recovers from some post pandemic headwinds and their primary competitor TikTok is entangled in a regulatory setback in Indonesia, we agree with management that now is the time to be aggressive and pivot back to growth mode and consolidate market share.”
3. DraftKings Inc (NASDAQ:DKNG)
Number of Hedge Fund Investors: 55
ChatGPT stock predictions said DraftKings Inc (NASDAQ:DKNG) can grow in the future because sports betting is getting legal in several states and people are showing an increased interest in fantasy sports.
Goldman Sachs analyst Ben Miller recently started covering the stock with a Buy rating. The analyst, like ChatGPT, also believes the stock would grow as more states legalize sports betting.
Baron Discovery Fund stated the following regarding DraftKings Inc. (NASDAQ;DKNG) in its fourth quarter 2023 investor letter:
“We added to our position in DraftKings Inc. (NASDAQ;DKNG), the leading mobile sportsbook and gaming operator in the U.S. While we lowered our estimates for the fourth quarter due to lower hold in the month of November, it is important to keep in mind that while hold can be volatile from quarter to quarter, the company continues to slowly increase hold over time (primarily because of a higher percentage of the handle being in higher hold “parlay” bets). We continue to be attracted to DraftKing’s dominant market share and the scale advantages that come with this.”
2. Nvidia Corp (NASDAQ:NVDA)
Number of Hedge Fund Investors: 173
Nvidia Corp (NASDAQ:NVDA) ranks second in our list of the stocks with 10X potential according to ChatGPT. The chatbot believes Nvidia Corp (NASDAQ:NVDA) is positioned to benefit from the “increasing demand for AI, data centers and gaming.”
ClearBridge Small Cap Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its first quarter 2024 investor letter:
“While large cap benchmarks get a lot of attention for a handful of mega cap stocks driving the lion’s share of performance, we would highlight even more extreme and unprecedented concentration in small cap benchmarks. Year to date, one stock, Super Micro Computer has driven 37% of the return of the benchmark, closely followed by MicroStrategy, a unique stock that is largely considered a bitcoin proxy. Together, they accounted for over half of the benchmark’s first quarter return. This compares to NVIDIA Corporation (NASDAQ:NVDA), which accounted for 24% of the return of the S&P 500 Index. The 32 top-performing stocks in the Russell 2000 Growth Index accounted for 100% of its return, versus 81 names driving the S&P 500’s performance this quarter.”
1. Alphabet Inc Class C (NASDAQ:GOOG)
Number of Hedge Fund Investors: 166
ChatGPT said Alphabet Inc Class C (NASDAQ:GOOG) remains a “dominant force” in advertising, Cloud and other technology services and has the potential for “sustained growth.” It added the stock in its list of companies which have the potential to grow 10X in the future.
Orbis Global Equity Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its fourth quarter 2023 investor letter:
“Never before has following the crowd made so much money. Nor, in our estimation, so little sense. But just look at the opportunities the crowd has left for those of us willing to take a different view. We could wax lyrical about the glaring difference in value between Korean banks priced at 4 times earnings, versus Apple Inc. (NASDAQ:AAPL) at 28 times, despite diverging fundamentals—Apple is increasingly at risk of bans in China, while Korean banks could double their dividends.”
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