With inflation slowly fading and enthusiasm over artificial intelligence building, tech stocks have surged in 2023, kicking off a fierce debate on Wall Street.
There’s broad consensus among analysts that A.I. is set to change the world over the long term, but some more cautious minds argue that this year’s run-up in A.I.-linked stocks has created a “bubble-like euphoria” among investors—or even another hype cycle that could ultimately end in a crash. And when it comes to inflation, while some economists believe that a recent cooling has given the Federal Reserve the ammo to stop its raising interest rates, others argue the central bank’s battle for price stability is far from over, which could put pressure on stocks. In both of these debates, Wedbush tech analyst Dan Ives is on the side of the optimists.
