It’s official: Massive Tech is making a comeback.
Let’s be trustworthy, the sector has had a tough go of it for the previous two years.
In 2022, the six largest tech shares within the U.S., specifically Google, Apple, Fb, Amazon and Microsoft (or “GAFAM,” plus Nvidia), misplaced nearly $3.8 trillion in market cap, collectively.
If we predict again to 2020, procuring on-line turned each a brand new passion and a obligatory development for customers. Whereas many small companies needed to shut up store, Amazon did very properly delivering groceries and residential items to your door.
Simply two years later, Amazon (Nasdaq: AMZN) was the most important loser of $788 billion. Google/Alphabet (Nasdaq: GOOGL) adopted swimsuit with $714 billion.
And now in third-quarter 2023, GAFAM is again to their 2020 highs.
Why? Effectively, we requested Ian King — our resident monetary knowledgeable on all issues tech.
He credit the rise of AI for this yr’s tech growth. However he additionally makes a market prediction for the way we might shut out the yr sturdy:
I believe that within the subsequent couple of weeks, we’re going to begin to see the beginning of a year-end rally. In fact, it’ll be led by know-how as a result of the most important theme this yr has been AI. And that’s not going away anytime quickly.
Corporations are nonetheless determining how they’re going to implement AI, and that’s simply going to drive an increasing number of demand for know-how, in addition to companies that produce AI tech I believe that’s going to proceed to be the principle theme into the year-end.
Market Edge: AI Power
We’ve talked about AI so much this yr. However that’s due to one factor: It’s not going away.
AI actually is disrupting each nook of the market — from well being care and leisure to finance.
It’s even affecting how we energy our lives, within the power sector. Particularly, in renewable power.
Ian’s newest analysis explores how “AI Power” might turn into a $40 trillion market disruptor. He broke down all the main points in a latest interview (and the way you can begin investing within the development).
Click on the thumbnail beneath to begin watching:
What Do You Suppose?
Nonetheless you may really feel about renewable power vs. the longevity of fossil fuels, we imagine it has nice potential as an funding alternative.
Do you need to study much more about how AI is revolutionizing the power sector? Tell us at BanyanEdge@BanyanHill.com.
Bonus: Be careful for tomorrow’s Banyan Edge. Ian’s giving his AI outlook for 2024 — the way it’s evolving, and two methods to take a position on this yr’s most huge tech development!
Blissful Monday!
