5 Best Robinhood Stocks According to Billionaires

2. Alphabet Inc Class C (NASDAQ:GOOG)

Number of Billionaire Investors: 34

When ChatGPT was launched by OpenAI, many said Alphabet Inc Class C (NASDAQ:GOOG) was a laggard in the AI race. But if anything, the generative AI race started by Microsoft Corp (NASDAQ:MSFT) gave a nudge to Alphabet Inc Class C (NASDAQ:GOOG) to get its act together and unleash its potential. Analysts at Citi recently said the company’s AI model Gemini will be a growth catalyst for the stock in 2024. They believe the LLM “levels the playing field across the broader GenAI landscape based on its ability to understand data across types.”

Here is what White Brook Capital has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Alphabet Inc. (NASDAQ:GOOG), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”