Tech stocks rally, thanks to AI

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 23 August 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The AI boom has driven up tech stocks this summer, meaning analysts are optimistic for chip maker NVIDIA’s earnings report earnings later today. But how much higher can tech stock get? Plus, a recent poll says one in three Israelis are considering emigration. We’ll hear from our partners at the BBC about potential economic consequences.

Transcript

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0:00.0	AI is carrying a whole lot of weight in this stock market.
0:06.7	From Marketplace, I'm Sabri Benashore, Infredated Brunk Hachio.
0:10.0	Tech stocks have seen a major rally this year on the back of artificial intelligence.
0:15.5	In video, which makes chips used in that technology, reports earnings later today, analysts
0:20.4	are generally optimistic.
0:21.8	The stock is already up 220% this year.
0:25.8	So how much further can all this go?
0:27.8	Ben Kumar is head of equity strategy.
0:29.6	It's seven investment management.
0:31.2	He's based in London.
0:32.2	Hi, Kumar.
0:33.2	Good morning.
0:34.2	So you've got some really eye-popping performance among tech stocks.
0:37.7	Meta is up 130%.
0:39.7	This year, Amazon up 60%.
0:42.2	Is this all AI?
0:44.6	It's AI and AI optimism related, I think.
0:49.0	While it's really, really exciting, and there's a lot of potential for it, I think there
0:53.5	is some unrealistic expectations being applied.
0:58.2	On all of these companies, multiples that suggest they're not only going to take everyone
1:02.2	else's business, but one another as well.
1:05.2	Plus, a stock like Nvidia is up 222% already this year.
	...

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