CrowdStrike, Palantir Among Stocks Poised To Double Or Triple Over The Next Year, Says Munster
Portfolio Pulse from Adam Eckert
Gene Munster of Deepwater Asset Management highlighted several sub-$50 billion market cap tech companies with potential to double or triple in value over the next year. On CNBC's 'Squawk Box,' Munster suggested investors should have exposure to tech, including mega-cap names like Meta Platforms, Alphabet, and Apple, which are trading near 52-week highs. However, he believes the real growth will come from smaller companies. Munster shared five of Deepwater's picks: CrowdStrike, Palantir Technologies, Zillow Group, Etsy, and private company Redwood Materials. He sees CrowdStrike and Palantir as underappreciated, with CrowdStrike set to report earnings and Palantir riding the AI wave. Etsy could benefit from holiday shopping, and Zillow is innovating in real estate with a new app version.
November 28, 2023 | 4:57 pm
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POSITIVE IMPACT
CrowdStrike, a cybersecurity company, is set to report earnings and has been identified by Gene Munster as having the potential to double or triple in value over the next year.
CrowdStrike's upcoming earnings report and Munster's positive outlook could drive investor interest and stock price growth in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Etsy is expected to benefit from holiday shopping and recent retail trends, with Munster seeing the potential for the stock to double or triple.
Etsy's positioning in e-commerce and the anticipated boost from holiday shopping could lead to a positive short term impact on its stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Palantir Technologies, known for its AI capabilities, is another company that Munster believes is underappreciated but has significant upside potential.
Palantir's positioning in the AI sector and Munster's endorsement suggest a positive short term outlook for the stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Zillow Group, which is innovating in the real estate sector with a new app version, is on Munster's list of companies with significant growth potential.
Zillow's innovation in real estate tech and the development of a new app version could contribute to stock appreciation in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Apple Inc is also trading near its 52-week high and is seen by Munster as a steady performer that should be included in portfolios.
Apple's status as a steady performer near its 52-week high suggests that Munster's comments may not have a significant short term impact on the stock price.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
NEUTRAL IMPACT
Alphabet Inc, another mega-cap tech company, is near its 52-week high and is recommended by Munster for investor portfolios.
Alphabet's current position near its 52-week high and Munster's recommendation suggest a neutral short term impact, with steady performance expected.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
NEUTRAL IMPACT
Meta Platforms is trading near 52-week highs and is one of the mega-cap tech names Munster believes should be part of most portfolios.
While Meta is trading near its 52-week high, Munster's comments suggest a steady outlook, which may not lead to significant short term price movement.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70