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Despite their incredible run-up his year, tech stocks still have a lot of room to grow. That is according to ChatGPT when I asked the question this afternoon. Although tools like ChatGPT are not “intelligent” in the sense that they are incapable of independent thought, by virtue of just receiving inputs and sending outputs, they do offer a glimpse of where certain tech stocks to buy will be in the next decade and beyond.
The stocks listed in this article are names we have all heard of, but ChatGPT was also surprising, in some cases, with its explanation of why it thinks these are tech stocks to buy.
So here are three tech stocks AI thinks will lead us into the next decade and beyond.
Nvidia (NVDA)
Source: Evolf / Shutterstock.com
Nvidia (NASDAQ:NVDA) has been a leader in the graphics processing unit (GPU) market, and its products are essential for a range of applications from gaming to artificial intelligence. With the increasing demand for AI and machine learning solutions, Nvidia’s GPUs are becoming more crucial.
The company recently announced its next-gen AI super chip, the GH200, and is tapping into generative AI, which can produce content and write code.
On top of being a leader in AI, NVDA also has its fork in the fire in terms of leading the way to other emerging technologies like blockchain. That’s because its chips are used in ASIC GPU miners employed to mine Bitcoin (BTC-USD).
Out of 51 analysts covering NVDA stock, most rate it a Buy, three chose Hold and no one recommended Sell. That helps make it one of those tech stocks AI thinks will lead us forward.
Adobe (ADBE)
Source: Shutterstock
Adobe’s (NASDAQ:ADBE) suite of creative software products has become an industry standard for professionals worldwide. With the shift to a subscription-based model and the expansion of its cloud services, Adobe has positioned itself for consistent revenue streams.
Like others on this list, ADBE stock is also taking advantage of generative AI. Instead of hiding from the problem AI may face in its business model, it has embraced the technology. Contributors can upload high-quality images to its contributor platform and receive commissions for every image downloaded. The company is also working on integrating AI more closely into its primary product suite.
In the near term, analysts maintain a Buy rating with a target price of $600. In the past 3 months, 20 out of 36 analysts rated it a Strong Buy. The average 1-year price target is $601.10, with a potential high of $660. That makes it one of those tech stocks to keep on your radar for the next decade.
Broadcom (AVGO)
Source: Broadcom
Broadcom (NASDAQ:AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. As the world becomes more connected, the demand for Broadcom’s products is set to grow.
AVGO stock is uniquely positioned to take advantage of multiple geopolitical trends, notably the pivot away from the reliance on Taiwan as tensions develop across the Taiwan Strait. America is consistently producing more chips at home, and AVGO stock helps in that diversification.
Therefore, it’s no wonder why analysts consider AVGO a Buy, even though it commands a respectable valuation. That helps make this company one of those tech stocks AI thinks will dominate the next decade.
On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
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