Posted 2/13/2024, 3:25:00 PM
Global Labor Shortage Driving Real Demand for AI, Not a Bubble: Fundstrat's Tom Lee
- AI stock craze not a bubble due to real demand amid global worker shortage, says Fundstrat's Tom Lee
- World lacks enough workers, driving need for AI/automation solutions from tech companies
- Magnificent 7 AI stocks comprise 30% of S&P 500, sparking bubble warnings, but Lee disagrees
- Shortage of human workers means growing demand to "replace salaried workers with silicone"
- Lee predicts S&P 500 could hit 5,200 in 2023 on Fed rate cuts, still sees stocks on positive trajectory