Investors Are Happy to Pay Premium for Tech, But Not for AI
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Investors on Wall Street and beyond are betting that the great tech rally of 2023 has staying power, even as they appear skeptical that the artificial-intelligence era will live up to the hype.Some 77% of the 514 respondents to the latest Markets Live Pulse survey are planning to either increase their exposure to technology stocks or keep it steady over the next six months. Meanwhile, less than 10% see a bubble in the sector bursting anytime soon. That bullishness has pushed the Nasdaq 100 to its best first half in history, ramping up market valuations and blindsiding pros on the Street. Yet while survey participants are likely riding the AI-fueled market melt-up thanks to their broad equity exposure, they aren't going all-in on the technology just yet. Half are disinclined to pa...