Goldman Sachs’ Top 5 Stock Picks for 2023

In this piece, we will take a look at Goldman Sachs’ Top 5 Stock Picks for 2023. For more top stocks, head on over to Goldman Sachs’ Top 15 Stock Picks for 2023.

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

Goldman Sachs’ Share Price Upside For 2023: 96.4%

2023 Return through May 8th: 26%

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest electronic commerce platform that enables buyers and sellers all over the world to conduct business. At the same time, the firm also has a cloud computing division, a satellite internet business, and sells consumer electronics.

In the wake of the devastating earthquake in Turkey which is a global calamity, Amazon.com, Inc. (NASDAQ:AMZN) announced in February 2023 that it is teaming up with relief organizations to help the survivors by donating goods from its Istanbul warehouse. 269 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had bought the company’s shares.

Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 49 million shares that are worth $5.6 billion.

4. Expedia Group, Inc. (NASDAQ:EXPE)

Goldman Sachs’ Share Price Upside For 2023: 97.5%

2023 Return through May 8th: 5.6%

Expedia Group, Inc. (NASDAQ:EXPE) is a travel services company that lets its customers book hotels and manage trips. The firm services both everyday and corporate customers and it is based in Seattle, Washington.

Expedia Group, Inc. (NASDAQ:EXPE) is rumored to be removing third party vacation rental brands from its portfolio, in order to force customers to choose its own Vrbo rental brand. As part of their third quarter of 2022 investments, 76 of the 920 hedge funds polled by Insider Monkey hold a stake in Expedia Group, Inc. (NASDAQ:EXPE).

Expedia Group, Inc. (NASDAQ:EXPE)’s largest shareholder is Paul Reeder and Edward Shapiro’s PAR Capital Management which owns 3.9 million shares that are worth $370 million.

3. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Goldman Sachs’ Share Price Upside For 2023: 100.4%

2023 Return through May 8th: 42%

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is an entertainment company with a wide variety of television channels under its wing. Additionally, it also owns one of the biggest movie studios in America, Warner Bros.

In a bid to diversify its delivery network, Warner Bros. Discovery, Inc. (NASDAQ:WBD) has reached a deal with streaming platforms Roku and Tubi to stream thousands of hours of content according to a Reuters report that surfaced in January 2023. Insider Monkey scanned 920 hedge fund portfolios for last year’s third quarter to find out that 61 owned the firm’s shares.

2. The Mosaic Company (NYSE:MOS)

Goldman Sachs’ Share Price Upside For 2023: 109.7%

2023 Return through May 8th: -13%

The Mosaic Company (NYSE:MOS) is a crop nutrient and fertilizer company that also operates its own mines. The firm is based in Tampa, Florida.

The Mosaic Company (NYSE:MOS) decided to sell a resort for $130 million in January 2023. The firm had built it as part of reclamation efforts of a mining site, and the transaction removed a rather unnatural item in a fertilizer company’s portfolio. 46 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had held a stake in the company.

Out of these, Eric W. Mandelblatt’s Soroban Capital Partners is The Mosaic Company (NYSE:MOS)’s largest shareholder. It owns 6.8 shares that are worth $332 million.

1. Salesforce, Inc. (NYSE:CRM)

Goldman Sachs’ Share Price Upside For 2023: 126.3%

2023 Return through May 8th: 49.3%

Salesforce, Inc. (NYSE:CRM) is a software firm that provides companies with a platform to improve and manage their customer relationship management and conduct daily operations. The firm is based in San Francisco, California.

Salesforce, Inc. (NYSE:CRM) is another large technology company that started off in 2023 with massive layoffs. This is also fueled by its CEO Marc Benioff’s opinion that remote workers are less productive, according to an Insider report. Insider Monkey’s September quarter of 2022 survey of 920 hedge funds revealed that 117 had invested in Salesforce, Inc. (NYSE:CRM).

Salesforce, Inc. (NYSE:CRM)’s largest hedge fund shareholder in our database is Ken Fisher’s Fisher Asset Management which owns 12.7 million shares that are worth $1.8 billion.

Disclosure: None. You can also take a peek at 16 Largest Photography Companies in the World and 10 Best February Dividend Stocks To Buy.

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