The race between generative artificial intelligence (AI) products is heating up as tech companies invest heavily to create the most impressive AI chatbots, aiming to capitalize on the enormous potential of this rapidly expanding market. With natural language processing and machine learning advancements, these chatbots have become increasingly adept at understanding and responding to human conversations.
One of the last to enter this race is Alphabet (NASDAQ: GOOGL), launching Google Bard earlier this year. Among vast other capabilities, Bard has demonstrated an impressive ability to predict future stock and crypto prices, as well as broader market trends.
What may come as a surprise to some, Bard estimated AMZN to end the year at $120 per share. Although that price, if materialized, would represent a considerable year-over-year increase of around 43%, it is slightly below the stock’s current price level.
“I predict that Amazon’s stock price will reach $120 by the end of 2023. This represents a year-to-year increase of 43%.”– Google Bard said.
The AI tool explained that its forecast is based on several key factors, including “Amazon’s continued growth in e-commerce and cloud computing,” its consistent financial performance, and a strong focus on innovation and growth.
Per Finbold’s request, Google Bard also listed predictions from several other websites and platforms on Amazon’s year-end stock price, for comparison purposes.
All of the mentioned platforms were more bullish than Bard itself. For instance, the stock market research platform MarketBeat expects AMZN to end the year at $145.87 per share, which is roughly 20% higher than the stock’s current price. Similarly, Gov Capital is forecasting an end-of-year price of $123.02 per share, while Yahoo Finance is estimating $140.
Amazon stock price analysis
At the time of publication, shares of Amazon were trading at $121.23, down 4.25% in the past 24 hours. Over the past month, the stock gained more than 14.5%, driven by stronger-than-expected results in the latest quarter and AI product launches.
Year-to-date, the e-commerce giant saw its share price soar more than 41%.
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