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Ohsung Kwon, who serves as the Chief Equity Strategist at Wells Fargo, maintains an optimistic stance on stocks related to artificial intelligence. He expects that capital expenditures in this field will remain robust. Kwon emphasizes that the current market is in the midst of an AI-fueled bull market, and this trend is projected to endure.
First, he clarifies that this isn't a bubble. Since the burst of the tech bubble, the Nasdaq's outperformance over the S&P 500 has been primarily attributed to its stronger fundamentals. This advantage is anticipated to persist.
Second, the AI investment cycle is still in its nascent phase. As long as the stock market continues to respond positively to corporate capital expenditures and growth prospects, the ongoing market rally will keep its momentum.
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