The frenzied rally in some artificial intelligence-related stocks this year hasn't been rational, but the underlying AI theme itself is strong, for the long-run, and not just a tech story, according to Bank of America's head of US equity and quantitative strategy.
"Companies are going to have to spend on AI just to stay alive. Tech companies are going to spend on AI, old economy companies are going to spend on AI, everybody is. So it's not just a one-theme market," she added."AI is just part of this whole efficiency, automation, 'doing more with less' theme that I think is going to be really bullish for corporate margins."
The market has been boosted by investor excitement over the rise of AI technologies, and expectations that the Federal Reserve will soon end its aggressive interest-rate hikes.
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Stocks are defying risks and naysayers, will rally more: BofA strategistUS stocks are defying naysayers like they did in 2019 and 2016 - charts signal the rally will extend, a Bank of America strategist says
Bron: BusinessInsider - 🏆 729. / 51 Lees verder »