The artificial intelligence (AI) fever triggered by the impressive success of ChatGPT and other large language models (LLMs) continues to capture investors’ attention. One of those chatbots that have been particularly appealing to stock traders is Alphabet’s Google Bard, because of its vast range of capabilities, such as predicting future market trends.
Leveraging its forecasting capabilities, Finbold asked Bard on Monday, June 5, to predict the potential stock price of Bud Light owner Anheuser-Busch InBev (NYSE: BUD) for the end of 2023.
The chatbot was optimistic about the company’s share price, citing several factors that could send BUD on a bull run.
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“As of June 5, 2023, Anheuser-Busch InBev’s stock price is $54.85. Based on my analysis of the company’s financial performance, market conditions, and analyst predictions, I believe that the stock price could reach $67.00 by the end of 2023. This would represent a 22.15% increase from the current price.”
– Google Bard wrote.
Factors that could affect Bud Light’s stock
After providing a specific price prediction for Bud Light owner’s stock, Google Bard listed key factors that could lead to the forecasted price increase.
Notably, the AI tool noted Anheuser’s consistently strong financial reports in recent years, particularly the company’s robust revenue and net income growth of 9.5% and 12.5% in 2022, respectively.
“This growth was driven by strong demand for the company’s products in both developed and emerging markets.”
– Bard added.
Further, Bard also cited positive analyst sentiment as a potential factor that could boost BUD’s price.
Meanwhile, the AI bot also brought up a few risks that could have negative implications on Bud Light’s stock, including rising raw material and transportation costs, intensifying competition from its rivals, and a global economic slowdown.
Last month, senior analyst L. Burke Files said he expects BUD’s share price to be at $42.25 at the end of 2023, implying a possible downside of around 23%. In his analysis, the researcher pointed out the presence of rising volatility within Anheuser-Busch stock.
Bud Light stock price analysis
At the time of publication, shares of Bud Light were standing at $54.85 ahead of the market open on June 5 after closing up 1.9% on Friday, June 2.
Over the past month, the stock lost significant value in the wake of the controversy involving the company’s social media promotion involving the influencer Dylan Mulvaney.
Year-to-date, BUD fell more than 9%, experiencing a volatile trading range from $53.05 to $66.23.
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