Posted 2/14/2024, 8:26:00 PM
Siegel: AI Stocks Overhyped But No Bubble Yet; Sees Value in Unloved Non-Tech Names
- Veteran market watcher Jeremy Siegel believes AI stocks are overhyped but not yet in "bubble" territory like in 2000
- Siegel called tech stocks a "sucker's bet" in 2000, but says market valuations and fundamentals are more reasonable now
- He sees "pockets of value" in unloved non-tech segments rather than highly valued AI names
- Siegel believes if AI revolution is real, it will benefit more than just megacap tech
- Historical examples show long-term winners from new tech often aren't the developers but those who can use it to create something new