Apple To Release AI Siri, No Tesla Robotaxi, Reddit Acquisition, Deep Fakes Mar US Elections And More: Deepwater Unveils 2024 Crystal Ball
Portfolio Pulse from Shanthi Rexaline
Deepwater Asset Management, co-founded by Gene Munster, has released its tech predictions for 2024 after achieving an 87.5% success rate with its 2023 predictions. The firm anticipates the iShares Russell 2000 Growth ETF (IWO) to outperform the SPDR S&P 500 ETF Trust (SPY), and expects tech companies like CrowdStrike (CRWD), Palo Alto Networks (PANW), and Datadog (DDOG) to be in acquisition mode. Apple (AAPL) is predicted to enhance Siri with AI and sell 400,000-500,000 units of Vision Pro, but not release new devices in the Vision line. Tesla (TSLA) is expected to maintain its U.S. EV market share in 2024. Deepwater also predicts Apple may acquire Peloton (PTON), and Take-Two Interactive (TTWO) could be the top U.S. gaming stock due to GTA VI anticipation. AI is expected to disrupt the 2024 presidential election with deepfakes. The Technology Select Sector SPDR Fund (XLK) saw a slight increase.
December 27, 2023 | 3:59 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust is expected to underperform compared to the iShares Russell 2000 Growth ETF, according to Deepwater's predictions.
If market sentiment shifts in favor of smaller tech stocks as predicted, SPY could see less interest compared to IWO, potentially leading to a relative underperformance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Ford's Lightning EV pickup truck is noted for outselling Tesla's Cybertruck in 2023, but no specific predictions for 2024 were mentioned.
While the past performance of the Lightning EV is positive, the lack of specific predictions for 2024 limits the potential impact on the stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Tesla is expected to maintain its market share in the U.S. EV market in 2024, despite a slowdown in EV delivery growth.
Maintaining market share is positive, but the predicted slowdown in EV delivery growth could temper investor enthusiasm, leading to a neutral impact on the stock.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
The Technology Select Sector SPDR Fund saw a minor increase, but no specific predictions for 2024 were provided in the article.
The slight increase in XLK is noted, but without specific predictions for 2024, it's challenging to gauge the short-term impact on the ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Apple is expected to integrate AI into Siri and sell 400,000-500,000 units of Vision Pro without releasing new devices in the Vision line. Additionally, Apple may acquire Peloton, adding to its subscription revenue.
The integration of AI into Siri could be a significant upgrade, attracting consumer interest and potentially boosting stock. The acquisition of Peloton would expand Apple's subscription services and fit into its health and wellness strategy, likely viewed positively by investors.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
CrowdStrike is anticipated to be in an acquisitive mode, looking to add point solutions to its platform in the coming year.
Being in acquisition mode could indicate growth and expansion, which is generally received well by the market, potentially leading to a positive impact on the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Datadog is expected to pursue acquisitions to enhance its platform, which could lead to growth and expansion.
Acquisitions could strengthen Datadog's product offerings and market position, which may be viewed favorably by investors, potentially boosting the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The iShares Russell 2000 Growth ETF is predicted to outperform the SPDR S&P 500 ETF Trust, favoring smaller tech companies.
If investors align with Deepwater's predictions, there could be increased interest in IWO, potentially driving up its price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Palo Alto Networks is likely to be actively seeking acquisitions to add to its cybersecurity solutions.
Acquisition activity could signal growth and a proactive approach to expanding the company's services, which might lead to a positive reaction in the stock market.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Peloton is a potential acquisition target for Apple, which could significantly impact its subscription revenue and market positioning.
The prospect of being acquired by Apple could lead to a surge in investor interest and a potential increase in Peloton's stock price, especially given Apple's track record and resources.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 85
POSITIVE IMPACT
Take-Two Interactive is predicted to be the best-performing U.S. gaming stock in 2024, driven by the anticipation of GTA VI.
The anticipation of a major game release like GTA VI could significantly boost investor interest and the stock price, especially if the game meets or exceeds expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 85