Stocks tied to the artificial intelligence frenzy might be trading at a premium, but that doesn't mean they're unattractive, according to JPMorgan. The AI trend has propelled stocks to new heights. This year alone, the two highest outperformers in the Magnificent Seven cohort — Nvidia and Meta Platforms — have climbed 90% and 44%, respectively.
On the other hand, the underperformance of Tesla and Apple , each down 31% and 10%, also speaks volumes: The days of merely riding the wave of these Big Tech names seem to be over, and companies will have to start proving that they have a fundamental AI story. Indeed, JPMorgan analyst Samik Chatterjee noted that within the hardware and networking space, the "AI Group" of stocks is trading at a 60% premium compared to its historical trading average. For comparison, the non-AI group of stocks is only at a 10% premium. Overall, Chatterjee said that the AI cohort is trading at a 55% premium relative to the non-AI basket
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Fuente: CNBC - 🏆 12. / 72 Leer más »