Thanks to the advances in the area of artificial intelligence (AI) that have led to the development of ChatGPT by OpenAI and other major products, a detailed analysis of the stock market is within reach of regular traders, as evident in the case of Lockheed Martin Corp. (NYSE: LMT).
As it happens, the global aerospace and defense company Lockheed Martin has had an uneventful year so far, as it started at around $477 and made a massive decline below $400 in early October, only to make a strong recovery after the Hamas attack on Israel on October 7.
Furthermore, things have continued to improve for the stock’s price as it landed a $1 billion deal with the United States Air Force on October 30, and ChatGPT’s newest model, GPT-4, has provided useful insights on the price of the Lockheed Martin stock at the start of 2024 from the present viewpoint on December 12, 2023.
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ChatGPT’s estimates for Lockheed Martin stock
Indeed, the AI platform has predicted that the price of the LMT stock at the beginning of the next year could end up somewhere around $500, as some forecasts it based its analysis on were projecting a range between $450 and $530. Specifically, as it explained:
“The forecasted average price for Lockheed Martin stock at the start of 2024 is projected to reach approximately $500, with some forecasts indicating a range anywhere between $450 to $530.”
According to ChatGPT, there are several factors to consider in the future price of Lockheed Martin stock, including “financial performance, market trends, and geopolitical events such as the war between Hamas and Israel,” as well as “the company’s position in the defense and aerospace industry.”
Lockheed Martin stock price analysis
Meanwhile, the price of LMT stock at press time stood at $451.26, recording an increase of 0.72% on the day, adding 0.13% across the past week, and increasing 1.44% over the previous month, as per the most recent information retrieved by Finbold on December 12.
Indeed, Lockheed Martin stock seems to have a positive short-term and long-term outlook for its price in line with ChatGPT’s predictions, particularly as it has been demonstrating a bull flag chart pattern and recording an average volume of 1.4 million shares traded daily.
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