Posted 2/3/2024, 2:45:00 PM
Tech Stocks Surge on AI Potential But Broader Market Lags
- AI and tech stocks saw huge gains in 2022, but still have room to run based on AI's potential economic impact
- ChatGPT drew attention to AI in Nov 2022, but hype is matched by estimates of trillions in value AI could add
- Despite tech's surge, S&P 500 remains below all-time highs, suggesting broader market and tech aren't overbought
- Instead of low-yielding S&P 500 ETFs, closed-end funds like GAB provide similar exposure plus 8X higher 11.7% dividends
- GAB trades at a rare 2% discount, providing upside through rising NAV, narrowing discount, high dividends