Morgan Stanley Investment Management’s chief portfolio manager says the pull witnessed in AI memory and chip names is an opportunity for investors to capitalize on dips.
In a new CNBC interview, Andrew Slimmon he says remains firmly entrenched in the industry’s most lucrative AI investment, despite the recent pushback.
Slimmon believes that the sale will help people live.
“I don’t think it’s expensive, but it’s a lot of people. In other words, it’s taken a kind of zeitgeist of fast traders. And when that happens, you’ll have a mature trade like we’re living.
It’s good for markets because in the end, what you don’t want to see is a lot of fun that ends badly. And I think the chances are that the Fed will go away and cut to maybe raise. This may have caused some of the bubbles to disappear. “
Slimmon also sees higher prices in AI and memory chip stocks as being accepted by the fundamentals, and believes that selling is an opportunity to buy on dips.
“Their earnings review has confirmed these stocks. These stocks have gone up, but they’ve also had earnings and earnings. When you look at some of these memorabilia and some of these value stocks, they’re not selling at high volumes because the market is doing it smart. It knows that these are very cyclical earnings. That doesn’t strike me as the way people do, you know. The markets price them accordingly.”
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