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Investor reaction to Meta’s GenAI is an admonition against overspending, rather than a sign of a fraying GenAI rally. Other hyperscalers’ investments are driven by buoyant demand and remain profitable. With valuations stretched and many of the positives priced in, market consolidation is likely. We are decreasing portfolio beta.
BCA Research | Equities
Macro, fundamental, and quantitative analysis translated into actionable equity views across sectors, factors, themes, and baskets.
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