Bloomberg Surveillance: Citi's Steve Wieting
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 1 March 2024
⏱️ 9 minutes
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Summary
Steve Wieting, Chief Investment Strategist & Chief Economist at Citi, discusses his predictions for the Magnificent Seven and other tech profits with Bloomberg's Jonathan Ferro and Lisa Abramowicz.
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Transcript
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| 0:00.0 | Looking for the latest perspectives to help simplify changing market conditions? |
| 0:04.5 | Go to Nationwide, one of America's largest financial services companies. |
| 0:08.9 | Nationwide Investment Services Corporation, |
| 0:11.5 | Finremember, Columbus, Ohio. |
| 0:14.0 | Blockchain, NFTs, AI. |
| 0:16.0 | What does this mean for you and me? |
| 0:18.0 | I'm Cheryl Dorsey, host of the TED Tech Podcast, |
| 0:22.0 | where we bring you the latest innovations and biggest ideas in |
| 0:25.2 | tech. |
| 0:26.2 | Tech is evolving fast and it affects our lives, from the metaverse to the watches on our |
| 0:30.2 | wrists. |
| 0:31.2 | You'll learn why people in AI make good business partners about our future |
| 0:35.0 | future self-driving robot taxi, what the next generation of Siri, |
| 0:38.5 | Alexa, Google looks like, and a lot more. |
| 0:41.5 | Find TED Tech on Apple Podcasts, Spotify, or wherever you listen. |
| 0:47.8 | Bloomberg Audio Studios, Podcasts, radio news. |
| 0:53.0 | Leaving behind a February full of tech-fueled stock market records, |
| 0:57.0 | Steve Wieding a city expecting the broader market to close the gap on big tech saying this, |
| 1:01.0 | the extreme divergence of large cap tech profits from other industries |
| 1:04.8 | should diminish this year and next. We would not be surprised if MAG-7 EPS gains in 2024 |
| 1:11.2 | were cut in half on strong investment spending and greater in where you're expected some of that gap. Well, if cut in half means 20 to 25 percent EPS gains, |
| 1:25.0 | that's still substantial growth. |
... |
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