15 Stocks ChatGPT Predicts Could Make You Wealthy in 10 Years

12. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 82

The Home Depot, Inc. (NYSE:HD) is an American home improvement retail company that sells building materials, lawn and garden products, home improvement and decor products, tools, construction equipment, and other materials used for repair and maintenance. It operates 2,345 retail stores and approximately 780 branches across all 50 states, the District of Columbia, other U.S. territories, 10 provinces of Canada, and Mexico.

In June 2024, the company completed the acquisition of SRS Distribution, Inc., one of the fastest-growing building products distributors in the U.S., for approximately $18.25 billion. The move is expected to raise The Home Depot, Inc. (NYSE:HD)’s total addressable market to around $1 trillion, by helping accelerate growth with the residential professional customer.

During the Q3 2024 earnings call on November 12, the company reported that SRS generated $2.9 billion of revenue during the third quarter, and was on track to deliver $6.4 billion in sales contribution over seven months. Overall, the company-wide revenue was posted at $40.2 billion, up 6% year-over-year. However, comparable sales declined 1.3%. Its stores in the U.S. also had negative comps of 1.2%.

During the first nine months of 2024, The Home Depot, Inc. (NYSE:HD) experienced pressures on larger remodeling projects because of the general macroeconomic uncertainty and a higher interest rate environment. Despite the challenges, the financial performance in Q3 was better than what the management had anticipated, reflecting the company’s resilience.

The Home Depot, Inc. (NYSE:HD) is also committed to shareholder returns. On November 14, it declared a third-quarter dividend of $2.25 per share to be paid on December 12. Wall Street analysts are bullish on The Home Depot, Inc. (NYSE:HD) with a consensus Buy rating. It is among the stocks ChatGPT predicts could make you wealthy in 10 years.