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How to Protect your Wealth by Investing in AI Tech Stocks

Magnite - MGNI Stock Price Analysis Forecast 2023

Companies / Investing 2023 Jan 17, 2023 - 10:17 PM GMT

By: Nadeem_Walayat

Companies

Ai Stocks Portfolio

A quick look at the current state of my portfolio which is now 88.5% invested after arrival of approx 5% of fresh cash and after I sold all of my NBIX holding given that it earlier retreated from a multi year high, and that it tends to trade within a range of $125 to $76. I have update the table to indicate when columns were last updated. I have also replaced the beta column with something more useful called Future Growth (1-10), which is basically how I see the COMPANY doing in terms of future growth potential where 10 is the highest and 1 is the lowest, note this does not mean that the stock prices will match growth potential due to a myriad of factors such as sentiment, valuation and politics, but it gives insight into the underlying prospects for the businesses where the two stocks that score 10 are AMD and TSMC which is why I am heavily invested in both and don't fret about stock price drops in either as recently experienced because the underlying businesses have huge long-term future growth potential. Stocks that score 9 are Nvidia, Facebook, ASML and IBM, which again means I am not too phased by what we recently witnessed with the likes of META and and Nvidia, stock prices rarely reflect the actual state of the underlying business as they oscillate between extreme fear and extreme FOMO as illustrated when one watches the Cartoon Network (CNBC).


Table Big Image - https://www.marketoracle.co.uk/images/2022/Nov/AI-stocks-portfolio-25th.jpg

Magnite - MGNI - $10.3, EGF 9%, 21%, P/E 15.6

MGNI - Not in my public portfolios but I covered this in my February 50 stocks analysis and some patrons took a shine to it as did I and often comes up in the comments section. I am 86% invested of target after trimming down from 100% invested on its recent price spike.

Back in February the stock was down 80% form it's high at $12.6, trading on a PE of 26 with a positive EGF of +19% with a risk rating of 3. A small cap online advertising firm that was showing steady growth. Today the stock is trading at $10.27 which is near double its bear market low, trades on a P/E of 15.6, EGF's of +9% and +21%. Which means the market has effectively thrown out the baby with the bath water! Magnite is GROWING EARNINGS else the P/E would not have fallen from 25 to 15. So on a fundamental earnings basis the stock is moving in the right direction, furthermore despite all that spouts from the talking heads the EGF's are strongly bullish implying to expect EARNINGS SURPRISES so I am not surprised that the stock spiked because THIS STOCK IS under valued and has HUGE UPSDE POTENTIAL because it is growing.

The spike we experienced that the weak hands sold into could repeat at the next earnings report when it is highly probable that the stock will break above $15. The stock will likely experience tougher resistance at about $30 as I am sure the management will start printing more shares as they were doing during 2021. So the stock will probably settle into a $35 to $25 trading range, that is X3 from here! With the potential to X10 which is what it did from October 2020 to February 2021. NO I don't expect a similar move but it could within the next 4 to 5 years because as I identified back in February it has the prerequisites to X10 i.e. growing earnings, small market cap, but is extremely volatile so one to trim as the stock price rises. I am currently 87% invested and I will up my target exposure by about 15% as I look to add this stock my high risk stocks portfolio on it's next update on risk rating of 3.

This article is an excerpt form my recent analysis on the current state of the embryonic stocks bull market Stocks Analysis Bonanza - GOOG, QCOM, ASML, TCHEY, BABA, BIDU, TSLA, WDC, RBLX, MGNI, COIN, BITCOIN CAPITULATION! that was was first made available to patrons who support my work.So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock it in now as $4 per month as this is sooon set to rise to $5 per month.

Also access to my extensive analysis that concludes in detailed stock market trend forecast into the end of 2023 Stocks Bear Market Max PAIN - Trend Forecast Analysis to Dec 2023 - Part1

Most recent analysis includes -

So for immediate first access to to all of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat.

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Again for immediate access to all my work do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock in now as this increases to $5 per month in the new year.

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Your mega-trend investing analyst.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2023 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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