In the world of investing, “smart money” stocks, which are favored by successful hedge funds and institutional investors, are always a topic of discussion. These stocks are chosen based on insider knowledge, meticulous research, and years of industry experience, making them attractive options for investors. Seven such smart money stocks are Microsoft, GSK, Apple, Medtronic, Amazon, Palantir Technologies, and Salesforce.
Microsoft has recently been granted approval for its acquisition of gaming company Activision Blizzard, strengthening its position in the gaming industry. The company’s investments in artificial intelligence (AI) and its success in various fields, from cloud storage to video games, have contributed to its robust growth this year.
GSK, a pharmaceutical giant, has a promising product pipeline, with its Arexvy vaccine expected to generate $2.5 billion in sales by 2029. The approval of Jemperli, a cancer treatment, by the U.S. FDA has further boosted the company’s prospects. Despite being undervalued, GSK’s strong financial performance and revenue growth indicate its potential.
Apple continues to shine with the release of its highly anticipated iPhone 15, which has received positive reviews and strong sales. The company’s innovation extends to the upcoming introduction of the Vision Pro augmented reality headset, generating excitement among consumers. With its stock price surging this year, Apple is poised for further success.
Medtronic, known for its cardiology innovations, has a diverse portfolio addressing various medical conditions. The company’s strong revenue growth, dividend payments, and upward profit forecast for 2023 indicate its positive trajectory. With the global medical device industry estimated to reach nearly $1 trillion in revenue by 2030, Medtronic’s position as a key player bodes well for its future prospects.
Amazon’s integration of AI into its operations has contributed to its significant stock price increase this year. The company’s revenue streams, including e-commerce, cloud services, and advertising, continue to flourish. Amazon’s recent investment in AI trailblazer Anthropic further positions it for growth in the AI sector.
Palantir Technologies has witnessed an impressive return this year, driven by its innovative ventures and partnerships. The company’s data analytics tools and clientele, which includes the U.S. government, highlight its expertise and financial success. With a strong revenue forecast for the third quarter, Palantir is an attractive option for those interested in the AI sector.
Salesforce, a leader in customer relationship management, has shown resilience and innovation in the volatile tech industry. Its strong operational results and AI-driven insights have made it a trusted choice for Fortune 500 companies. Despite temporary market dips, Salesforce’s stability and growth potential make it an appealing investment option.