Thanks to the advances in the field of artificial intelligence (AI) that have led to the development of platforms like Google Bard by Alphabet (NASDAQ: GOOGL) and ChatGPT by OpenAI, the analysis of stocks like Boeing (NYSE: BA) is now within reach of individual traders and investors.
Indeed, the stock price of the renowned aerospace and defense manufacturer was unexceptional for most of this year, even recording a steady decline from early September. However, the situation started to improve towards the year’s end, leading its shares to a yearly high of over $260.
With this in mind, Finbold has tasked ChatGPT’s most recent model, GPT-4, with providing insights on the price of Boeing stock at the start of 2024 from the current viewpoint as of December 19, 2023 – and the platform has delivered a comprehensive response.
ChatGPT’s estimate for Boeing stock
As it happens, the AI platform’s predictions for the estimated potential price of the Boeing stock at the beginning of the next year range between $340, accounting for the forecasts at the lower end, and $415, which refers to the more optimistic projections. In conclusion:
“Therefore, an estimated potential price range for Boeing (BA) stock at the start of 2024 could be broad, from the lower $340s to as high as the mid-$400s. This range encapsulates the various expectations from the identified sources while considering the company’s recovery and market standing.”
According to ChatGPT, there are multiple factors to consider when attempting to forecast the future price of the Boeing stock, including its “rehabilitation from the 737 MAX incidents” and “a growing backlog and a resumption of production in strategically important regions like China.”
Boeing stock price analysis
Meanwhile, the price of the Boeing stock at press time stood at $260.38, indicating a modest decline of 1.5% on the day while gaining 4.97% across the past week and adding up to the 25.17% advance on its monthly chart, as per the most recent information retrieved on December 19.
In terms of its technical analysis (TA), Boeing scores generally positive, both in the short and long terms, particularly evident in its yearly performance that was better than 90% of all other assets in the stock market, in addition to outperforming 74% of the other 63 stocks in the aerospace and defense industry.
On top of that, the Boeing stock is presently changing hands near its 52-week high, in line with the rest of the S&P500 Index, which is also trading near new highs, with excellent liquidity in the form of over 6 million traded shares per day on average.
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Source: https://finbold.com/chatgpt-predicts-boeing-stock-price-at-the-start-of-2024/