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Why Analyst Thinks PowerFleet (AIOT) Could Deliver Triple-Digit Upside

PowerFleet Inc. (NASDAQ:AIOT) is one of the best tech stocks under $10 to invest in. On September 9, Barrington analyst Gary Prestopino reiterated his Buy rating on the stock with a $15 price target, implying his expectation for the stock to triple in value from its current level (as of the publication of his note).

He noted that the recent acquisition of two companies, namely MiX Telematics and Fleet Complete, has helped the company expand its market globally and bolster its product lineup. The Unity platform also remains an important pillar of PowerFleet’s strategy, as it continues to help grow the business and increase revenue per user.

The analyst was also encouraged by the company’s large market, with an estimated $120 billion total addressable opportunity in fleet and industrial equipment management. Moreover, PowerFleet has secured new business deals, including growth in AI video bookings, and maintains a strong pipeline with major channel partners.

Additionally, the company’s collaborations with key telecom and automotive companies, along with cost savings from recent integrations, support its solid financial position.

PowerFleet Inc. (NASDAQ:AIOT) provides connected vehicle and fleet management solutions for industrial equipment, transportation, and logistics companies. Its offerings include tracking hardware, software platforms, and analytics tools that help businesses monitor various assets.

While we acknowledge the potential of AIOT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AIOT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: Goldman Sachs Value Stocks: 10 Stocks to Buy and 14 Best Precious Metals Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

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And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

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