Investors Should Back the AI Maximalists
Polar Capital is bullish on AI and believes that the sector is far from being a bubble.
Britain's investment establishment thinks the US market, particularly the technology-centric "Magnificent Seven" stocks, is an investment bubble destined to implode as the "hype" surrounding AI dissolves.
In contrast, US investors have a different view. The Magnificent Seven's market share of the S&P 500 has doubled to 32% since the end of 2022, while its share of corporate earnings has risen from 13% to 23%, notes veteran strategist
Ed Yardeni.
Author's summary: Polar Capital backs AI maximalists.
- Magnificent Seven's market share of the S&P 500: 32%
- Share of corporate earnings: 23%
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