We recently published a list of 9 Stocks That Could 10X Over the Next 2 Years. In this article, we are going to take a look at where Uber Technologies, Inc. (NYSE:UBER) stands against other stocks that could 10X over the next 2 years.
US Tariffs and the Stock Market Turmoil
While tariffs from the US government disrupted international trade, they also led to uncertainty and turbulence in financial markets, with the S&P 500 closing below 5,000 points for the first time in nearly a year. An analysis from the World Economic Forum regarding how tariffs cause volatility in financial markets was stated in the words of Santiago Fernández de Lis, Head of Regulation, BBVA, as follows:
“The main impact of trade tensions on global markets is through uncertainty. When major economies—like the US and China—engage in a tariff war, investors fear slower global trade, disrupted supply chains and weakened corporate profits. This anxiety translates into market volatility. Companies delay investment decisions, consumers lose confidence, and currencies fluctuate wildly.”
However, global markets rebounded later as the US president made an announcement of a 90-day pause on additional higher tariffs that had to impact almost 80 countries, with the exception of China. In the case of China, the new president is convinced to keep high tariffs as he stated that these tariffs would be increased to 125% from 104% following China’s announcement of additional retaliatory tariffs against the US.
Following this pause in tariffs, Wall Street witnessed a sigh of relief. The S&P 500 rose 9.52%, thereby marking its biggest one-day gain since 2008. The Dow Jones Industrial Average climbed almost 7.87% to close at 40,608.45. Simultaneously, the tech-heavy Nasdaq soared 12.2% and had its best day since January 2001.
Our Methodology
To compile our list of the 9 stocks that could 10X over the next 2 years, we first carried out a consensus by sifting through multiple similar articles online. Once we had an extended list of the stocks that could 10X over the next 2 years, we shortlisted the top 9 stocks based on the number of hedge funds that have stakes in them, as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A close up view of a hand holding a smartphone, using a ride sharing app.
Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 166
Uber Technologies, Inc. (NYSE:UBER) is a multinational transportation company offering ride-hailing services, courier services, food delivery, and freight transport. It serves as one of the largest ridesharing companies and operates in more than 70 countries across the world.
Jefferies analyst John Colantuoni has kept a Buy rating on the stock with a price target of $90. Similarly, Needham and TD Cowen also previously gave the company Buy ratings with respective price targets of $90 and $88. Analysts believe in the competitive advantage of the company, especially its strategic position in the global mobility and delivery markets, as well as its lower wait times. The firm has strongly committed to its global leadership in autonomous vehicle innovation, a strategic move that is expected to further strengthen its market position. Recently, the firm, along with WeRide (NASDAQ:WRD), partnered with Dubai’s Road and Transport Authority to bring autonomous vehicles to Dubai. Uber Technologies, Inc. (NYSE:UBER) and Dubai’s Road and Transport Authority will be working together on pilot programs, thereby leveraging the company’s technology to match riders with autonomous vehicles. This collaboration will enable Uber to position itself in Dubai which is striving to be a global pioneer in autonomous mobility and is aiming to transform 25% of all journeys into autonomous trips across different transport modes by 2030.
Overall, UBER ranks 3rd on our list of stocks that could 10X over the next 2 years. As we acknowledge the growth potential of UBER as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than UBER but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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