In this article, we will take a look at the 5 stocks that will go up 1000 percent. To see more such companies, go directly to 10 Stocks That Will Go Up 1000 Percent.
5. Tesla Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 82
There’s no shortage of analysts and experts who believe Tesla Inc. (NASDAQ:TSLA) stock can gain 1000% or more in the years to come. One of the most notable Tesla Inc. (NASDAQ:TSLA) bulls with an ambitious price target for the stock is Cathie Wood. She believes Tesla Inc. (NASDAQ:TSLA) shares could reach $3000 by 2025. As of July 8, Tesla Inc. (NASDAQ:TSLA) is trading $274. If Tesla Inc. (NASDAQ:TSLA) shares reach $3000, it would be a gain of about 995%.
Tesla Inc. (NASDAQ:TSLA) shares recently jumped after the company posted strong delivery numbers for the month of June.
As of the end of the first quarter of 2023, 82 hedge funds tracked by Insider Monkey had stakes in Tesla Inc. (NASDAQ:TSLA). The biggest hedge fund stakeholder of Tesla Inc. (NASDAQ:TSLA) is D E Shaw with a $1.3 billion stake in the company.
4. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 131
Apple Inc. (NASDAQ:AAPL), the most valuable tech company, has always been a leader in the industry due to its innovation and unique products. Just when the market starts to believe Apple Inc. (NASDAQ:AAPL) has seen its peak, the company makes a comeback and ends up increasing its user base due to its excellent products. Apple Inc. (NASDAQ:AAPL)’s dominance in the smartphone industry, its huge growth in software and services, its media and content bets and AI- and VR-related investments could easily 10X the stock in the next 10 to 20 years. That’s why Apple Inc. (NASDAQ:AAPL) is labeled a potential ten-bagger stock by many of the media sources we consulted.
Insider Monkey’s database of 943 hedge funds shows that 131 hedge funds had stakes in Apple Inc. (NASDAQ:AAPL) as of the end of the first quarter. The most notable hedge fund stakeholder of Apple Inc. (NASDAQ:AAPL) was Warren Buffett’s Berkshire Hathaway which owns a $151 billion stake in the company.
Manole Capital Management made the following comment about Apple Inc. (NASDAQ:AAPL) in its second quarter 2023 investor letter:
“Despite this, the S&P 500 is up 7% this year and the Nasdaq is up +11%. Technology rebounded from a challenging 2022 and many large tech companies are performing quite well this year. Through mid-May 2023, year-to-date performance of some of the most popular and largest names tech names is impressive. For tech companies with market capitalizations over $1 trillion, Apple Inc. (NASDAQ:AAPL) is up +35%, Microsoft +33%, Amazon +39%, and Google is +40%. In terms of contribution to the S&P 500’s year-to-date return, Apple and Microsoft represent roughly half of its 2023 performance. Apple, and Microsoft now account for 13.9% of the entire S&P 500 or 80% more concentrated than 2008. For additional perspective, Apple’s market cap is at $2.8 trillion and that is larger than the market cap of the entire Russell 2000. To conclude, it’s distinctly getting more concentrated at the top.
For our purposes, we are just going to focus on software digital wallets, as they are much more common and accessible. If you own an iPhone, then you have an Apple Pay pre-loaded digital wallet. If you have a Samsung phone, you have Samsung Pay available for use. Those two, along with Google Pay and PayPal, are the four most popular digital wallets today. According to the Payments Journal, PayPal has been used (over the last 12 months) by 62% of American consumers, followed by Apple Pay at 41% and Google Pay at 32%.
Digital wallets have tons of advantages, that we are embracing. When we attend Tampa Bay Lightning games, we love having our season tickets easily accessible on our phones (via the Apple Pay wallet), as well as our timed parking pass. When we travel, loading the airline ticket into our Apple Pay wallet is much more convenient than printing out a paper boarding pass. Others are using digital wallets to track their expenses, budget properly, and even help them easily pay their bills. Digital wallets are still in their infancy and have decades of future growth; we believe the smartphone is simply the best interface and platform for digital wallets…” (Click here to read the full text)
3. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 132
NVIDIA Corporation (NASDAQ:NVDA) shares have the potential to reach 10X their current value based on the company’s AI products, according to several reliable media sources and websites we consulted. Currently, NVIDIA Corporation (NASDAQ:NVDA) has practically zero competition when it comes to making chips for generative AI applications. While many believe NVIDIA Corporation (NASDAQ:NVDA) has already reached its potential, there are some wise investors who think the company still has a long way to go.
SkyBridge Capital Founder Anthony Scaramucci recently said that NVIDIA Corporation (NASDAQ:NVDA) may be overvalued right now but “if you own it for the next 15 years, you’ll probably be OK.”
Hedge funds were also increasing their bets on NVIDIA Corporation (NASDAQ:NVDA) earlier this year. As of the end of the first quarter of 2023, 132 hedge funds reported owning stakes in NVIDIA Corporation (NASDAQ:NVDA), up from 106 hedge funds that had stakes in the company at the end of the fourth quarter of 2022.
2. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 220
The speed with which Meta Platforms, Inc. (NASDAQ:META) is innovating and expanding into new areas is mind boggling. Meta Platforms, Inc. (NASDAQ:META) can post slow but steady gains for investors over the next decade. Meta Platforms, Inc. (NASDAQ:META)’s investments in AI, VR, new social media platforms and its dominance in the industry could bear fruit in the future.
As of the end of the first quarter of 2023, 220 hedge funds tracked by Insider Monkey had stakes in Meta Platforms, Inc. (NASDAQ:META). The biggest stakeholder of Meta Platforms, Inc. (NASDAQ:META) during this period was Philippe Laffont’s Coatue Management which owns a $1.71 billion stake in the company.
ClearBridge Large Cap Value Strategy made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its first quarter 2023 investor letter:
“The standout contributor for the quarter was Meta Platforms, Inc. (NASDAQ:META), which we bought in the fourth quarter of 2022. We still feel good about Meta shares after the rally, with positive drivers that we found attractive in late 2022 — large scale advantages in driving user engagement, the ability to invest in tools to monetize its audience, cost discipline and a strong balance sheet — still in play.”
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 289
Microsoft Corporation (NASDAQ:MSFT) has the potential to reach 10X its current value in the next decade or so given the dramatic and quick AI-related advances the company is making. Microsoft Corporation (NASDAQ:MSFT)’s partnership with OpenAI, integration of AI with its software products and the revival of Bing search along with the company’s Cloud plans can skyrocket MSFT shares in the future.
Microsoft Corporation (NASDAQ:MSFT) is the most popular stock among the 943 hedge funds tracked by Insider Monkey. One of the most notable stakeholders of Microsoft Corporation (NASDAQ:MSFT) is Chris Hohn’s TCI Fund Management which owns a $4.4 billion stake in the company.
You can also take a peek at 12 Best 5G Stocks To Buy Now and 10 Best Fast Growth Stocks To Buy.
