Technology
AI hype is rising faster than revenue, and maintaining positive sentiment through 2027 will require either rising revenues, or a new AI innovation to sustain the hype cycle, such as capable personal assistants or physical AI. Our Chart of the Week comes from…
Investors are rotating from tech to ex-tech stocks on an unclear narrative. META sold off aggressively on Thursday, despite a revenue beat and positive guidance that initially saw its stock rise by over 5% in Wednesday’s after-hours trading. The NASDAQ…
In this screener report, we explore opportunities in high-quality Tech, European integration winners, and selective US cyclicals in Industrials and Materials.
A continued bull market in stocks necessitates the avoidance of earnings disappointment. The Q3 US earnings season officially began last week with results from US financials, but all eyes will be focused on reports from large tech firms. META reported…
This week’s selloff in neocloud providers is not yet a major warning sign for tech stocks overall. CoreWeave, a US neocloud provider, sold off aggressively on Wednesday, declining over 15% on the day. The stock recovered somewhat on Thursday, as did our…
In this screener report, we explore opportunities in duration-resilient large-cap Technology, emerging defense technology, and a conditional entry point into copper.
Our US Equity strategists remain constructive on the S&P 500 but expect the AI capex boom to divide Tech between hyperscalers and neoclouds. Robust EPS growth, cloud revenues and backlogs herald continued AI investment, supporting our colleagues’ 8100…
AI demand remains strong, but the capex boom is creating a growing divide within Tech. Hyperscalers combine superior margins, capital efficiency and financing capacity with multiple paths to monetize AI investment. Neoclouds rely more heavily on leverage and scarcity economics, potentially making them more vulnerable should capacity expand and compute pricing normalize.
Our clients expect to fund AI mega-IPOs exposure by selling today’s listed AI winners. In last week’s poll, 71% of clients said they expect to fund purchases of the coming mega-IPOs by rotating out of Tech, well ahead of reallocating from bonds (18%) or…
Our Counterpoint strategists argue AI will not make the human brain obsolete. AI can replicate parts of our brain’s neocortex, which supports logic, reasoning, mathematics, and other IQ-driven tasks, but it lacks the limbic system that generates emotion and…