Skip to content

ChatGPT picks 5 stocks to buy for start of 2024

ChatGPT picks 5 stocks to buy for start of 2024

Despite the still-present threat of a recession and the relatively high inflation, 2023 – and especially its later months – brought respite to investors and created room for renewed optimism. 

The uptrend was visible in the stock market as well as in the crypto market, with multiple assets marching toward all-time highs, or, at the very least, highs not seen in well over a year.

With 2023 nearly over and 2024 – a year many hope will turn into a proper bull market – right around the corner, Finbold decided to ask the artificial intelligence (AI) of OpenAI’s flagship platform – ChatGPT – which stocks a savvy investor might want to buy before the holidays are over.

ChatGPT picks 5 stocks for 2024. Source: Finbold and ChatGPT

In its selection, the AI offered a decent selection of companies – some more and some less surprising – and explained what role each of the stocks would play in a savvy investor’s portfolio.

Microsoft (NASDAQ: MSFT)

Right out of the gate, ChatGPT offered what appears to be a safe bet for any investor in 2024. Microsoft (NASDAQ: MSFT) has had a rather strong 2023 and, so far, has managed to navigate several turbulent periods successfully. 

Earlier this year, the company managed to complete its acquisition of the gaming giant Activision-Blizzard, though the Federal Trade Commission (FTC) is still trying to contest the purchase. 

Microsoft also managed to stabilize and resolve the situation that emerged when Sam Altman was suddenly and, ultimately, temporarily booted from his post as the CEO of OpenAI.

Generally, ChatGPT simply considers Microsoft a very strong pick due to its sprawling business empire, diverse portfolio, and generally strong historical performance. According to the AI, MSFT offers stability and growth to a portfolio. 

The technology giant is up approximately 54% since January 1, 2023.

MSFT YTD price chart. Source: Finbold

Zoom Video Communications (NASDAQ: ZM)

While the lockdowns are now long over, ChatGPT believes that widespread remote work is here to stay. According to the AI, this fact, along with its continued leading role in cloud communication and video conferencing innovation, makes Zoom (NASDAQ: ZM) a strong stock pick for 2024.

Similar to its assessment of Microsoft, ChatGPT states that Zoom also offers stability and growth to a portfolio, as well as helping it position itself to benefit from any future digital communication booms.

In 2023, ZM has mostly held steady and recorded modest year-to-date growth of about 4%.

ZM YTD price chart. Source: Finbold

Shopify (NYSE: SHOP)

Shopify (NYSE: SHOP) is, according to ChatGPT’s analysis, an important player in the continuously-expanding e-commerce sector. Its continuous improvements in terms of its platform and scaling position it well for future success, and it is already a crucial ingredient for the success of small and medium companies looking to capitalize on the current e-commerce trends

ChatGPT calls Shopify a strategic bet on the continued expansion of the e-commerce sector.

In 2023, SHOP has been marked both by significant volatility and, to an even greater extent, by staggering growth. The company is, year-to-date, approximately 111% in the green.

SHOP YTD price chart. Source: Finbold

NVIDIA Corporation (NASDAQ: NVDA)

Nvidia (NASDAQ: NVDA) is another of ChatGPT’s picks that appears only logical to anyone who has been following the stock market. Nvidia is the biggest player in the semiconductor industry and a crucial part in the burgeoning artificial intelligence sector. 

Nvidia is also well positioned for continued success in 2024 due to the announcement of its new high-end AI chip – the H200 – and may even find a way to partially circumvent the latest round of export restrictions to China due to its ongoing negotiations with the U.S. government. 

ChatGPT simply commented that an investment in Nvidia is an investment in innovation and cutting-edge technology, particularly in the fields of gaming, AI, and general graphics processing.

NVDA logged incredible performance throughout 2023 and is up a staggering 236% since January 1.

NVDA YTD price chart. Source: Finbold

Pfizer Inc. (NYSE: PFE)

Pfizer (NYSE: PFE) comes as ChatGPT’s possibly most controversial pick. Still, the AI explains that its robust vaccine portfolio positions it as a major player in the pharmaceutical industry.

ChatGPT further explained that an investment in PFE offers a balance between relative stability and growth potential due to its already strong position in the market and its ongoing research and development (R&D) investments.

In terms of its 2023 performance, PFE has been on a long and steady decline from its COVID-19 highs. The stock is down 46% year-to-date.

PFE YTD price chart. Source: Finbold

Even when challenged for its pick due to this downtrend, the AI remained adamant that it is likely a good long-term stock to invest in. Given the recent alarming figures and an urgent warning issued by the Center for Disease Control (CDC), Pfizer might indeed soon get a second wind.

Buy stocks now with Interactive Brokers – the most advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts