There are few figures in the financial world that have captured the attention of retail investors like Cathie Wood. This is where Cathie Wood stocks come in, whether they’re seen as bad or good.
As the founder and CEO of Ark Invest, Cathie Wood has become renowned for the disruptive innovation platform. While often criticized by others, some of her transformative streams like artificial intelligence (AI) and cryptocurrency are starting to gain traction. Although some of her investment ideas are questionable, there exists a select few that can deliver outsized returns for investors.
Now, let’s discover the top three Cathie Wood stocks to turn $10,000 into $50,000 by 2028!
UiPath (PATH)
UiPath (NYSE:PATH) is a pioneer in robotics process automation (RPA). RPA utilizes software robots for automotive repetitive tasks, promising significant efficiency gains and cost reductions. Cathie Wood is a strong believer in UiPath, holding a large position in the company’s various exchange-traded funds (ETF).
UiPath is flying under the radar and holds a lot of promise as the AI software market continues to advance. In an era where businesses are increasingly embracing automation to stay ahead, their platform offers a compelling value proposition. They also have a broad appeal and diverse clientele across industries such as finance, healthcare and manufacturing. The success and implementation of RPA is steadily growing and hinge on effective change management in organizations. Moreover, the company has seen rapid revenue growth since their IPO in 2021 and just had their first profitable quarter as a public company in Q4 FY24. As automation becomes an essential part of the business process, UiPath remains a contender for the best Cathie Wood stocks to buy in 2024.
Palantir Technologies (PLTR)
Palantir Technologies (NYSE:PLTR) is an AI company focusing on big data analytics and one of the top Cathie Wood stocks to buy now. The company’s AI growth prospects and flip to profitability has made them one of the most raved about companies on Wall Street.
Palantir has positioned itself at the forefront of big data analytics, offering powerful tools and solutions for businesses and governments. In an increasingly data-driven world, the need for such services has been unprecedented. While the company is mainly targeting government agencies, their AIP platform is set to be a huge catalyst for long term growth and profitability. Palantir has continued to grow its commercial presence, with commercial revenue up 70% year over year (YOY) in Q4 2023. CEO Alex Karp is maintaining focus on driving profitable growth, while continuing to diversify away from their core business. With an anticipated S&P 500 inclusion in 2024, Palantir is well-positioned to deliver substantial returns for investors.
Meta Platforms (META)
Meta Platforms (NASDAQ:META) is a global social media giant that owns notable subsidiaries such as Facebook, Instagram and WhatsApp. While Cathie Wood’s investment is on the smaller side, she believes the company is strategically positioned to lead the metaverse and VR world.
Meta Platform’s investments in virtual reality (VR) technology and its Oculus VR platform are central to this vision. The company has invested nearly $50 billion in the metaverse since 2019 and plans to increase capital expenditures in 2024. Aside from their metaverse bets, Meta is ramping up their investments into generative AI. They announced the release of their large language model (LLM), Llama 3, set for July 2024. This will be a game-changer, competing directly with Gemini and ChatGPT, as well as creating new AI features in the metaverse. Furthermore, Meta’s free cash flow (FCF) has ballooned in the last year and business is booming as the company announced their first ever dividend.
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
