Munster - Palantir Among Stocks Poised to Double or Triple Over the Next Year | PLTR Message Board Posts


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Msg  826 of 919  at  11/28/2023 2:43:32 PM  by

sterigmos318


Munster - Palantir Among Stocks Poised to Double or Triple Over the Next Year

11:57 AM EST, November 28, 2023 (Benzinga Newswire)

The so-called magnificent seven should be a part of most portfolios, according to Deepwater Asset Management's Gene Munster.

However, the real growth opportunity over the next year is in select sub-$50 billion market cap companies, Munster argued on CNBC's "Squawk Box."

Investors should still own tech despite the sector's major move year-to-date, the investment fund manager said.

"I don't think you need to own all of the magnificent seven, but I think you should have some exposure," Munster added.

Several mega-cap tech names are currently trading near 52-week highs. Munster sees opportunity in some of the leaders such as Meta Platforms Inc (NASDAQ:META), Alphabet Inc (NASDAQ:GOOG) and Apple Inc (NASDAQ:AAPL).

"Even though these magnificent seven will continue to be steady ... and should be part of most people's portfolio, we think performance is going to come from the sub-$50 billion market cap companies," Munster said.

There are several tech companies with market caps below $50 billion that could help supercharge investor returns as we head into 2024. Deepwater is invested in about 20 of them; Munster shared five of Deepwater's picks:

CrowdStrike Holdings Inc (NASDAQ:CRWD)
Palantir Technologies Inc (NYSE:PLTR)
Zillow Group Inc (NASDAQ:Z)
Etsy Inc (NASDAQ:ETSY)
Private lithium-ion battery company Redwood Materials.

Munster believes these companies have a "2x or 3x upside opportunity over the next year."

CrowdStrike is an under-the-radar cybersecurity company set to report earnings after the close Tuesday. Etsy is poised to get a boost from holiday shopping and recent retail trends showing the consumer remains strong. And Zillow, which is changing the real estate sector, is currently working on a new version of its app.

Palantir is another under appreciated company that can continue to ride the artificial intelligence wave higher, Munster explained.


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