ChatGPT picks 5 stocks to buy for spring of 2024 – Finbold – Finance in Bold
As 2024 is already well underway, and spring is arriving next month, the stock market is performing above expectations, and stock traders and investors are wondering which of these assets, in particular, present an optimal investment and a good opportunity to buy in the months to follow.
Indeed, the broad-based S&P 500 index is inching closer to the 5,000 level, as quarterly results suggested that better times are coming. At the same time, the Nasdaq Composite has soared to 15,756.64, while the Dow Jones Industrial Average raced to an all-time high (ATH) at 38,677.
In this context, Finbold has asked ChatGPT, the groundbreaking artificial intelligence (AI) language model and popular human-like text-based chatbot invented by OpenAI, to suggest a list of five stocks that any investor should have in their portfolio for the spring of 2024.
According to ChatGPT, American technology behemoth Microsoft (NASDAQ: MSFT) is a “leading innovator in the tech sector, consistently showing steady growth and a promising future with its ventures in cloud computing gaming, and productivity software.”
Meanwhile, MSFT was changing hands at $414.05, recording a 2.11% gain on the day, racing 4.14% over the past week, and increasing its value by 10.18% during the last month, according to the most recent chart information retrieved by Finbold on February 8.
Secondly, the AI-based language model has suggested Scotts Miracle-Gro (NYSE: SMG) due to the “strong growth in the gardening sectors and the booming cannabis industry, where Scotts has a significant presence through its Hawthorne Gardening subsidiary.”
As things stand, the price of SMG stock currently amounts to $57.16, which indicates a drop of 0.49% in the last 24 hours, a 1.6% advance across the previous seven days, and a 7.81% decline over the past month, as the latest charts demonstrate.
As a third option, ChatGPT went for Alphabet Inc. (NASDAQ: GOOGL), arguing that the parent company of Google has observed “substantial growth in Google Cloud and YouTube divisions,” which as also a “forefront runner in the development of artificial intelligence and autonomous driving technology.
In terms of their price at present, Alphabet shares have increased 1.4% in the last day, in addition to gaining 3.88% over the week, and adding up to the accumulated advance of 3.26% in the past month, and are currently trading at the price of $145.54.
Although PayPal (NASDAQ: PYPL) has gone through the recent publicized layoffs of its personnel, the AI chatbot has voiced its opinion that it “continues to hold a dominant position in the online payments industry,” with “predictions for recovery and growth as digital payments become increasingly mainstream.”
For now, PayPal stock is trading at the price of $63.24, which means it is down 0.74% on the day but has nonetheless grown 3.08% over the period of the last seven days, in addition to gaining 3.59% in the past four weeks, as per the most recent chart data.
Finally, ChatGPT noted that The Home Depot, Inc. (NYSE: HD) “saw a surge in revenue growth due to an increased focus on home improvement” during the global pandemic, projecting the continuation of this trend “as more people are undertaking home refurbishment projects.”
At press time, HD stock was changing hands at $362.69, which suggests an increase of 1.81% in the past 24 hours, an advance amounting to 2.76% across the previous seven days, in addition to gaining 4.77% over the course of the last month, as the data suggests.
All things considered, most of the above stocks suggested by ChatGPT do, indeed, demonstrate strength and potential to become a fruitful investment. However, it is important to remember that guessing to precise price of a specific stock is a difficult task, even for an AI platform.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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