Goldman Sachs managing director Lee Coppersmith says Magnificent Seven stocks could be set for a comeback.
In his latest appearanceCoppersmith compares current market conditions to March 2020 related to COVID.
“In this period, like today, what it revealed is that the market stopped relying on the stocks of Mag 7 as leaders. So, I can tell you that I think that if you would, you know, look at what happened at that time, obviously, after the COVID, obviously, the recovery of the companies happened. you made them against the whole market, right?
So, what we can say today to customers is that if you want to look for ways to get a bigger market after a month of teasing, this gives another very attractive opportunity for customers to use this word as a way to extend the entire market. “
Coppersmith says investors haven’t lost confidence in the topic of artificial intelligence and are approaching AI with a barbell approach.
“They want to have full access to AI through the game of architecture. But they also want to have access to AI, which means driving companies, infrastructure that leads to productivity.”
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