In this article, we look at 10 stocks that ChatGPT said will make me rich in 10 years. To skip the detailed analysis of generative AI and its applications in the investment field, please go directly to the following link: 5 stocks that ChatGPT says will make you rich in 10 years.
Using artificial intelligence for investing
The market has been talking about artificial intelligence, especially generative AI, all year long. Companies across a wide range of industries and sectors are introducing unique AI-powered products and services to avoid being left behind by competitors. At the same time, today every investor is trying to get into artificial intelligence trading. As we head into the second half of 2023, retail investors and hedge funds alike are dedicating their resources to picking the best AI stocks for the rest of the year. Interestingly, it's not just human resources that are currently being invested in stock selection. Some investors and hedge funds are actually trying to harness the power of AI to pick stocks instead of relying on humans to do the work. This trend makes me think about how successful his AI software will be in helping investors build portfolios. Is it a strategy that can yield amazing results, or one that will lead to disaster?
On August 3, CNBC hosted Todd Rosenbluth, head of research at VettaFi, to talk about just this. CNBC's Bob Pisani points out that AI-powered exchange traded funds (ETFs) have been around for a while, and they've started to proliferate more this year. So Mr. Pisani invited Mr. Rosenbluth to share his insights about these ETFs and their effectiveness. Rosenbluth says more AI-driven ETFs are working on stock selection these days. Commenting on this development, he said:
“Maybe this is a smarter way to pick stocks. I know computers may be smarter than I think. [it’s] The question is whether it can outperform the broader S&P 500 index. There's no emotion behind it. ”
Can generative AI really help investors?
The debate surrounding artificial intelligence in general and in the investment world has become very interesting due to the immense potential of this technology in changing the way people live, work, and even invest. Masu. I wonder how not only his AI-driven ETFs, but also AI chatbots can contribute to today's investment world. In May, CNN reported that a dummy portfolio of 38 stocks recommended by OpenAI's viral chatbot ChatGPT actually outperformed a large UK investment fund, for example. The portfolio managed to gain about 4.9% from March 6 to April 28, while the country's 10 major investment funds reported an average loss of about 0.8%. During the same period, the S&P 500 index rose 3%. The results of this experiment are just one example of the huge potential offered by artificial intelligence in investing.
Experimenting with stock selection using ChatGPT
Considering this situation, we also tried to obtain the stock list from ChatGPT in March this year. First, we asked the AI chatbot to identify itself as a professional investment advisor, and then asked it to come up with a list of 10 stocks that it thinks will make us rich over the next 10 years. Since then, ChatGPT has provided us with a diverse list of stocks, from technology companies and consumer staples to financials and healthcare. Some of the most notable companies on that list include Microsoft Corp. (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and NVIDIA Inc. (NASDAQ:NVDA), all of which ranked among the top tech and AI sectors this year. It's a major company.
Today we revisit this list of stocks to see how these companies performed from March to August and find out if ChatGPT was right to recommend these stocks. confirm. This will tell you if these stocks really qualify as his stocks that can make you rich in 2023 and beyond.
our methodology
In March 2023, we asked ChatGPT to act like a stock-picking expert and recommend some stocks that could make you rich in 10 years. Specifically, we asked the chatbot, “Which stock will make me rich in 10 years?” In this article, we have calculated the returns of these stocks from March 16th, the publication date of the previous article, to August 16th. We then ranked these stocks from worst to best based on these calculated returns. These companies are also mentioned in hedge fund information from Insider Monkey's Q2 data.
Stocks that ChatGPT says will make you rich in 10 years
10. Procter & Gamble Company (NYSE:PG)
Number of hedge fund holders: 74 people
Earnings after March 16th: 8%
Procter & Gamble Company (NYSE:PG) is a consumer staples company headquartered in Cincinnati, Ohio. We offer a variety of branded consumer packaged products, including conditioners, shampoos, deodorants, and skin care products. The company's brands include Pantene, Olay, Head &Shoulders, and more.
Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on shares of Procter & Gamble Company (NYSE:PG) on August 1st. The analyst also maintains her price target on the stock at $174.
We found that 74 hedge funds owned shares of Procter & Gamble Company (NYSE:PG) at the end of the second quarter. The total value of their stake in the company was $5.3 billion.
Procter & Gamble Company (NYSE:PG) has been a ChatGPT recommended stock for the past five years, as have Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and NVIDIA Corporation (NASDAQ:NVDA). It rose in A few months.
9. Visa Inc. (NYSE:V)
Number of hedge fund holders: 171
Return since March 16th: 10.6%
Morgan Stanley analyst James Fawcett maintains an “overweight” rating on Visa Inc. (NYSE:V) stock as of July 26th. The analyst also raised his price target on the stock to $292 from $290.
Visa Inc. (NYSE:V) is a financial company and payments technology provider with operations around the world. It is based in San Francisco, California. The Company operates VisaNet, a transaction processing network and provides payment transaction authorization, clearing, and settlement services.
171 hedge funds held shares in Visa Inc. (NYSE:V) during the second quarter, with a total value of $24.9 billion.
At the end of the second quarter, TCI Fund Management was the largest shareholder in Visa Inc. (NYSE:V) with 17.8 million shares of the company's stock.
8. Johnson & Johnson (NYSE:JNJ)
Number of hedge fund holders: 88
Return since March 16th: 11.7%
According to Q2 hedge fund data, 88 hedge funds own shares of Johnson & Johnson (NYSE:JNJ). The total value of their stake in the company was $4.1 billion.
Johnson & Johnson (NYSE:JNJ) is a healthcare and pharmaceutical company based in New Brunswick, New Jersey. The company researches, develops, manufactures and markets pharmaceutical products, including health and beauty products, worldwide.
As of July 31st, Cantor Fitzgerald analyst Louise Chen has an Overweight rating on Johnson & Johnson (NYSE:JNJ) stock. The analyst maintains a price target of $215.
Like Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and NVIDIA Corporation (NASDAQ:NVDA), Johnson & Johnson (NYSE:JNJ) is a ChatGPT recommended stock and ranks among hedge funds today. is very popular.
7. Apple Inc. (NASDAQ:AAPL)
Number of hedge fund holders: 135
Return since March 16th: 15.4%
Berkshire Hathaway was the largest shareholder in Apple Inc. (NASDAQ:AAPL) at the end of the second quarter, holding 915.6 million shares of the company's stock.
Apple Inc. (NASDAQ:AAPL) is a leading technology company headquartered in Cupertino, California. We manufacture iPhones, Macs, iPads, AirPods, Apple Watches, and more.
On August 4, Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Apple Inc. (NASDAQ:AAPL) stock. The analyst also raised his price target on the stock from $185 to $205.
Apple Inc. (NASDAQ:AAPL) was among 135 hedge funds' 13F holdings during the second quarter, with total holdings of $193.9 billion.
6. Microsoft Corporation (NASDAQ:MSFT)
Number of hedge fund holders: 300
Earnings since March 16th: 16%
Microsoft Corporation (NASDAQ:MSFT) is another large technology company on ChatGPT's list of recommended stocks. The company develops and supports software, services, devices and solutions worldwide. It is based in Redmond, Washington.
A total of 300 hedge funds were long Microsoft Corporation (NASDAQ:MSFT) during the second quarter. The total value of their stake in the company was $69.8 billion.
Redburn Partners analyst Alex Heisl maintains a Buy rating on Microsoft Corporation (NASDAQ:MSFT) stock as of August 11th. Analysts also have a price target of $440 for the stock.
Bill & Melinda Gates Foundation Trust was the largest shareholder in Microsoft Corporation (NASDAQ:MSFT) at the end of the second quarter, holding 39.3 million shares of the company's stock.
Third Point Management commented on Microsoft Corporation (NASDAQ:MSFT) in its Q2 2023 investor letter:
“While our total equity exposure is still modest (less than 100% on the long side), our net worth has increased to 70% and 77% on a beta-adjusted basis as of this writing, with approximately 45% of its net long exposure % consists of direct and indirect AI beneficiaries trading at reasonable valuations. We have expanded our investments in certain cloud software businesses, including: microsoft (NASDAQ:MSFT) as a result of the rapid growth of its Azure cloud business, its ability to apply AI capabilities to its core Office products, its investments in Open AI, and its ability to provide AI services to other companies (e.g., Microsoft We own a stake in LSE, one of our portfolio companies, which also helps us unlock greater value in our data through AI.”
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Disclosure: none. 10 stocks that ChatGPT said will make me rich within 10 years Originally published on Insider Monkey.
