Posted 3/12/2024, 6:18:00 PM
BofA Forecasts AI Investment Boom to Lift S&P 500 Earnings to $250 in 2024 and $275 in 2025
- AI investment cycle expected to drive record $250 EPS for S&P 500 in 2024, per BofA
- BofA raised 2024 EPS estimate from $235 to $250 based on AI adoption boosting profits
- Also sees 2025 EPS reaching $275, representing 10% growth year-over-year
- Megacap tech giants like Microsoft and Amazon spending billions on AI capex
- Combination of economy, AI productivity gains, investment surge to lift profits