Posted 3/5/2024, 11:04:56 AM
Tech Giants Drive Market Gains But AI Growth Questions Loom
- AI and tech stocks like Nvidia are driving stock market gains, raising risks if the tech fails to deliver promised growth
- A handful of "Magnificent 7" tech giants account for nearly two-thirds of recent S&P 500 gains
- Bulls see AI gains spreading as the technology is adopted more widely, though skeptics say adoption remains narrow
- There are questions around how much AI benefits companies beyond big tech firms so far
- If AI doesn't translate to bottom line growth for more companies, stock market euphoria could fade