{"id":34169,"date":"2023-07-11T11:08:50","date_gmt":"2023-07-11T15:08:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/heres-how-much-tech-stocks-could-surge-amid-ai-revolution-but-some-warn-euphoria-is-unsustainable\/"},"modified":"2023-07-11T11:08:52","modified_gmt":"2023-07-11T15:08:52","slug":"heres-how-much-tech-stocks-could-surge-amid-ai-revolution-but-some-warn-euphoria-is-unsustainable","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34169","title":{"rendered":"Here’s How Much Tech Stocks Could Surge Amid ‘AI Revolution\u2019\u2014But Some Warn ‘Euphoria’ Is Unsustainable"},"content":{"rendered":"
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Topline<\/h2>\n

Already red-hot technology stocks are in line for a rally to historic levels, Wedbush declared Tuesday, even as a host of firms warn the artificial intelligence-driven gains could be little more than wishful thinking.<\/p>\n

Key Facts<\/h2>\n
\n
\n

The tech sector will soar another 12% to 15% by year\u2019s end, Wedbush analysts led by Dan Ives predicted in a note to clients, explaining the \u201cAI revolution\u201d will further boost investor sentiment as companies report quarterly earnings in coming weeks.<\/p>\n<\/p><\/div>\n

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A 15% surge for the Nasdaq Composite would send the tech-heavy index to just shy of its all-time high of 15,971 first achieved in November 2021\u2014culminating in a dramatic 52% rally for the index in 2023.<\/p>\n<\/p><\/div>\n

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The most valuable tech giants like Microsoft and Nvidia will continue to be the primary \u201ctorch bearers\u201d for the rally, according to Wedbush, as multibillion-dollar projected increases in AI spending across the entire sector should lead to higher earnings expectations.<\/p>\n

<\/fbs-ad>\n <\/div>\n

\n

\u201cA new tech bull market has begun to take shape,\u201d the analysts proclaimed.<\/p>\n<\/p><\/div>\n<\/div>\n

Contra<\/h2>\n

Wedbush\u2019s optimistic prognostication for tech comes amid a growing chorus of analyst concerns about the sector’s soaring valuations. JPMorgan chief global strategist Mislav Matejkaech said tech stocks are \u201cstretched\u201d thin at their current prices in a Monday note, adding \u201cFOMO is in full swing\u201d\u2014and not just for tech. Citing the unfettered AI \u201ceuphoria,\u201d Citigroup downgraded its outlook for U.S. stocks Monday, setting a 4,000 price target for the bellwether S&P 500 index, implying 9% downside. \u201cThe composition of the S&P 500 is still tech top-heavy and likely to right-size further from here,\u201d Bank of America quantitative analysts led by Ohsung Kwon predicted Tuesday.<\/p>\n

Key Background<\/h2>\n

Tech was among the worst-performing sectors throughout 2022 as the Federal Reserve\u2019s interest rate hikes battered profits for the growth-sensitive bunch. But the November release of Microsoft-backed generative AI chatbot ChatGPT and subsequent AI offerings from top tech names helped spur a massive recovery for the sector, with top names like Apple and Nvidia surging to all-time high share prices in recent weeks. The seven largest American tech companies added some $4.1 trillion in market capitalization during the first half of 2023.<\/p>\n

What To Watch For<\/h2>\n

Alphabet, Apple, Meta and Microsoft will kick off big tech earnings season with reports beginning on July 25.<\/p>\n

<\/h2>\n

Best Stocks Of 2023\u2019s First Half: Nvidia Leads Big Tech Renaissance (Forbes<\/em>)<\/p>\n

Best And Worst Investments Of 2023: Bitcoin And Tech Stocks Surge As Oil Tumbles (Forbes<\/em>)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Topline Already red-hot technology stocks are in line for a rally to historic levels, Wedbush declared Tuesday, even as a host of firms warn the artificial intelligence-driven gains could be little more than wishful thinking. Key Facts The tech sector will soar another 12% to 15% by year\u2019s end, Wedbush analysts led by Dan Ives […]<\/p>\n","protected":false},"author":1,"featured_media":34170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-34169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nHere's How Much Tech Stocks Could Surge Amid 'AI Revolution\u2019\u2014But Some Warn 'Euphoria' Is Unsustainable | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Already red-hot technology stocks are in line for a rally to historic levels, Wedbush declared Tuesday, even as a host of firms warn the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=34169\" 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