Stock Market in AI Bubble with 30% Upside Through 2025 Before Burst Risk
• The stock market is in a bubble, but still has 30% upside through end of 2025 (S&P 500 target 6,500)
• Current bubble resembles dot-com bubble, revolving around AI instead of the internet
• S&P 500 forward P/E ratio of 20x now, below 25x peak during dot-com bubble
• Upside predicated on bubble inflating further as AI narrative builds
• Impossible to predict exactly when bubbles will burst, but S&P 500 forecasts based on bubble inflating through 2025