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Key Points
- Billionaire Bill Ackman’s hedge fund, Pershing Square, outperformed the S&P 500 by 24 points over the last decade, and as of Q3 2023, 39% of his portfolio is invested in Alphabet (19%) and Uber (20%).
- Alphabet is enhancing its AI capabilities through custom chips and cloud services, expecting a 16% annual earnings growth over the next three years. Google Cloud revenue surged due to AI services demand.
- Uber, the largest ride-sharing platform globally, aims to drive the U.S. ride-sharing market to $1 trillion with partnerships involving autonomous vehicles, projecting a 31% annual earnings growth over the next three years.
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