5 Stocks That Will Make You Rich in 5-10 Years

3. Alphabet Inc Class A (NASDAQ:GOOGL)

Number of Hedge Fund Investors: 221

Digital advertising. Cloud. AI. Search. Futuristic projects. There are many reasons and catalysts that make Alphabet Inc Class A (NASDAQ:GOOGL) a noteworthy stock to buy and hold to get rich in the next 5 to 10 years.

Paul Meeks, veteran tech investor and professor at The Baker School of Business at The Citadel, said in a program on CNBC after Q3 earnings that the market’s reaction after Alphabet Inc Class A’s (NASDAQ:GOOGL) quarterly results was overdone as he believes a slight miss on Cloud growth estimates is not a big deal. The analyst said everything else on Alphabet Inc Class A’s (NASDAQ:GOOGL) report was impressive to him.

King Lip of BakerAvenue Wealth Management in December said that he believes Alphabet Inc Class A (NASDAQ:GOOGL) will perform better than Microsoft in 2024 since he believes the market is not fully appreciating Alphabet Inc Class A’s (NASDAQ:GOOGL) AI capabilities. The analyst also said Alphabet Inc Class A (NASDAQ:GOOGL) is cheaper than Microsoft.

Diamond Hill Long-Short Fund made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

“On an individual holdings’ basis, top contributors to return in Q3 included long positions in KKR, Ciena Corporation and Alphabet. Shares of media and technology company Alphabet Inc. (NASDAQ:GOOG) rose in the quarter as its advertising and cloud businesses remain robust and the company delivered results ahead of market expectations. From a sector perspective, communication services also managed a positive Q3 (2%), riding the ongoing wave of positive mega-cap stocks’ performance, like Alphabet.”