CNBC’s annual Stock Draft kicked off Thursday with “Power Lunch,” with candidates hunting for a variety of investments from bitcoin to AI plays. The annual stock selection competition pits financial professionals, athletes and celebrities against each other, with each of the ten teams asked to choose two names from a list of sixty investments. The winner of the competition will depend on which investor has the highest average returns based on closing prices between April 25, 2024 and February 7, 2025. Here’s a look at some of the big names, with the full list of picks below. Meta American professional basketball player Breanna Stewart bet on Meta with her first choice. Shares of the social platform fell more than 10% on Thursday after the company posted a lighter-than-expected second-quarter revenue forecast. Shares of Meta are currently trading 25% higher this year. Despite Thursday’s pullback, Stewart said the stock was an “easy choice” for her. “If there is a player like Mark Zuckerberg, we want him on our team,” she added. Nvidia Eddie George chose chipmaker Nvidia for its long-term prospects. “I really believe in the management team,” said the former Tennessee Titans running back and current head football coach at Tennessee State University. George added that Nvidia CEO Jensen Huang has done a “phenomenal job” so far. The company climbed about 4% on Thursday to buck the market’s overall downtrend. Nvidia shares are up 67% this year. “The graphics processing unit is the best on the market,” he said. “They are in high demand, they are leaders in AI, and I believe in them for the long term.” Super Micro Computer WWE wrestler Charlotte Flair chose Super Micro Computer as her first choice. “AI continues to be at the forefront of this technological revolution, and SMCI happens to be a major player,” said the defending 2023 Stock Draft champion. Shares of Super Micro Computer are up 179% this year, but are down 36% compared to their peak in March. Flair cited this recent dip as a catalyst for the stock, which reports earnings after the bell next Tuesday. Flair chose IBM as her second choice and stuck with the technology sector. Bitcoin Oz Pearlman chose bitcoin as his first choice, selecting the only non-equity investment on the board. The American mentalist and magician admitted that the cryptocurrency is not a ‘safe play’, but that it could provide a huge windfall for investors willing to take a risk. The approval of several bitcoin exchange-traded funds has pushed assets to new all-time highs. Last month, bitcoin rose to a new all-time high above $70,000. “I think it’s a game with tremendous upside,” Pearlman said. “I think it’s a sure bet that Bitcoin goes to six figures. It’s not a matter of if, but when.” Caterpillar Austin Ekeler, Washington Commanders football running back, chose Caterpillar industrial stock as his top choice. The company’s shares fell 7% on Thursday after revenue of $15.8 billion for the most recent quarter missed analyst estimates of $16.04 billion, per LSEG. The construction equipment manufacturer also published soft sales guidance for the second quarter. While the fall of Caterpillar did not influence Ekeler’s choice, he said he is optimistic about the company in the short term as the supply of affordable housing “dries up.” “Where we are now – in an environment where there is a shortage of housing supply and infrastructure, especially in the housing department – Caterpillar is going to have a great few months here,” Ekeler said. Boot Barn Nev Schulman, an American TV presenter and producer, chose Boot Barn. “Because climate change is clearly a major factor, bad weather is increasing. We’re going to need boots,” said the host of MTV’s “Catfish.” “Companies come and go, trends come and go, but feet and hard work are here to stay.” Shares of Boot Barn, which sells Western and work-related shoes and clothing, are up more than 40% this year. The company has benefited from a busy season of rodeos and music festivals as well as a jump in sales of Western-style boots fueled by the release of Beyoncé’s “Cowboy Carter” late last month. Microsoft Jillian Michaels, founder of The Fitness App, chose Microsoft. The tech titan will report its latest earnings after the bell on Thursday. Giancarlo Chersich, Michaels’ partner in the competition, said he is basing the choice on Nancy Pelosi’s stock portfolio, which includes Microsoft, and the recent technology sell-off that provides an investment opportunity for bullish investors. The stock, widely considered an AI play, is up 6% this year. Analysts expect revenue growth of 15% year-over-year, slightly higher than management’s 14.5% forecast in January. Oracle Joey Chestnut, an American competitive eater known as ‘Jaws’, pointed to AI and cloud play Oracle as his favorite stock in the market. He highlighted the software company’s forays into healthcare as part of his investment thesis, noting Oracle’s decision to move its global headquarters to Nashville in an effort to be closer to the area’s healthcare giants. Oracle completed its $28 billion-plus acquisition of healthcare company Cerner in 2022, expanding its footprint in the space. Chestnut added that he is a “huge supporter” of co-founder Larry Ellison. Wall Street has cheered the stock, with analysts surveyed by FactSet assigning Oracle an average overweight rating and a $140.09 price target, indicating an upside of more than 21% from Wednesday’s closing price. Shares of Oracle are up about 9% this year. DraftKings In true CNBC Stock Draft spirit, Stewart selected DraftKings as her second-round pick. “Sports betting is at an all-time high,” she said. Shares are already up 16% this year, but Stewart and her stock-picking partner Karen Finerman believe more growth is on the way for DraftKings’ market share. Apple George selected Apple for his second choice. The iPhone maker is scheduled to report its fiscal second-quarter earnings next Thursday. Faced with declining demand and increasing competitive pressure, Apple’s shares are down nearly 12% this year, making it a weak link within the “Magnificent Seven” technology cohort. But the company’s history of product innovation could offset these recent drawbacks. In particular, George likes Apple’s strong fundamentals, excellent management team and Apple’s brand loyalty. The company’s legacy of sustainable excellence has also paved the way for cutting-edge technology like Apple Pay and the Apple Watch. “It’s always about the next thing at Apple,” he said. Here’s the full list of CNBC Stock Draft picks Breanna Stewart: Meta, DraftKings Eddie George: Nvidia, Apple Charlotte Flair: Super Micro Computer, IBM Oz Pearlman: Bitcoin, Carvana Austin Ekeler: Caterpillar, Intel Nev Schulman: Boot Barn, Crocs Jillian Michaels: Microsoft, JPMorgan Druski: Nike, Google Joey “Jaws” Chestnut: Oracle, Starbucks Kenny “The Jet” Smith: Warner Bros. Discovery, Delta Air Lines
Subscribe to Updates
Get the latest creative news from FooBar about art, design and business.
Charlotte Flair Likes IBM, Eddie George Chooses Apple: CNBC’s 2024 Stock Draft
Related Posts
Add A Comment