5 Stocks ChatGPT Says Will Make Me Rich in 10 Years

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 259

Microsoft Corporation (NASDAQ:MSFT) is an information technology company based in Redmond, Washington. The company offers products such as Microsoft Office, Teams, Skype, and more.

An Outperform rating was reiterated on Microsoft Corporation (NASDAQ:MSFT) shares on February 24 by Wedbush analyst Daniel Ives.

Microsoft Corporation (NASDAQ:MSFT) generated revenues of $52.75 million in the fiscal second quarter of 2023, representing a year-over-year growth of 1.97%. The company’s shares have risen by 8.85% year-to-date, and analysts see an upside potential of 11.99% on the stock.

There were 259 hedge funds long Microsoft Corporation (NASDAQ:MSFT) in the fourth quarter, with a total stake value of $58.7 billion.

Baron Funds, an investment management company, mentioned Microsoft Corporation (NASDAQ:MSFT) in its fourth-quarter 2022 investor letter. Here’s what the firm said:

“Shares of mega-cap software company Microsoft Corporation (NASDAQ:MSFT) outperformed despite a mixed fiscal first quarter due to macro challenges that negatively impacted results and guidance, including foreign exchange headwinds, weakening PC demand, and a cyclical slowdown in advertising spending. Total revenue beat Street expectations at 16% constant-currency growth (vs. estimates of 14%), but its Azure cloud computing business missed analyst projections by 1% for the second straight quarter, though it still grew a robust 42% year-over-year, as Microsoft helped its customers optimize existing workloads due to the macro backdrop. While the optimization of workloads is a short-term headwind, we believe it is the right thing to do and should help drive more consumption with customers over time. Our research continues to indicate that the longer-term secular trend of cloud computing remains healthy and intact. For example, in its fourth quarter CIO survey report, Morgan Stanley showed, among other things, that cloud computing was the second highest CIO spending priority (behind only security software), that cloud application workloads were expected to increase from 27% of total workloads today to 46% by the end of 2025, and that Azure was listed as the preferred cloud vendor and likely to take share over the short and long term.9 Additionally, Microsoft is positioned to be a prime beneficiary of ChatGPT. Microsoft invested $1 billion in OpenAI in 2020 and is rumored to be considering investing an additional $10 billion for a 49% stake in the company. Moreover, ChatGPT runs on Microsoft’s Azure platform, and Microsoft recently announced the general availability of its Azure OpenAI Service enabling Azure customers to access advanced AI models, including ChatGPT itself soon. We remain bullish on Microsoft’s long-term opportunity in the cloud, and believe AI has the potential to be additive to growth for years to come.”

See also The Future of Artificial Intelligence and Most Advanced Countries in Artificial Intelligence.