'Take Profits' On Top AI Performers, Citigroup Says: Is The AI Sector Now In A Bubble?
'Take Profits' On Top AI Performers, Citigroup Says: Is The AI Sector Now In A Bubble?
A small group of artificial intelligence (AI) stocks played a large part in sending the S&P 500 to historic performance in 2024. While there are all-time highs and rapid share price appreciation in the AI play, some experts are skeptical that the rally can continue.
一小部分人工智能（AI）股票在推动标普500指数在2024年创下历史新高方面起到了重要作用。虽然AI股票表现不俗，股价迅速上涨，但一些专家对此持怀疑态度，认为这波涨势是否能继续。
The AI Analyst: In a Monday note, Citigroup (Citi) analyst Drew Pettit told investors to "take profits" on AI amid top performers' sky-high performance. Pettit's takeaways were revealed in a Bloomberg report.
AI分析师：花旗（Citi）分析师Drew Pettit在周一的一份报告中告诉投资者要在AI股票达到高位时“抛售”。Pettit的论点在彭博社的报道中披露。
Main Takeaways: The analyst stated that while betting against AI "would be difficult for many on the buy-side," investors should rebalance portfolios away from the high-fliers and into AI companies trading cheaper. Pettit is particularly skeptical about chipmaker stocks' continued performance.
主要观点：该分析师指出，尽管“在买卖方面对抗AI将对很多人构成挑战”，投资者应将组合从高飞者中平衡出来，向价格更便宜的AI公司调整。Pettit对芯片制造商的持续表现持有怀疑态度。
A small number of AI stocks have roundly outperformed the S&P 500 and are heavily concentrated in the index; thus, the markets are now dependent on the AI play to continue its rally.
少数几只AI股票在表现上远超过标普500指数，并且在指数中占据了很大比重；因此，股市现在依赖于AI的表现来维持其涨势。
Pettit stopped short of labeling the AI rally as a "bubble."
Pettit没有将AI的涨势称为“泡沫”。
"Our estimates suggest stock prices imply lofty expectations, but long-run consensus estimates suggest most are attainable," the analyst said. "Essentially, sentiment is very optimistic, but still seems shy of a full-blown bubble."
“我们的估计表明股价暗示着高妙但一致的估计，而长期一致预期估计表明这些估计是可实现的，”该分析师说。“基本上，情绪非常乐观，但仍然不足以构成完全的泡沫。”
Goldman Sachs Weighs In: Citi's relative pessimism on some AI companies comes amid other analysts' comments on AI.
高盛的观点：花旗对一些AI公司的相对悲观情绪与其他分析师对AI的看法形成对比。
Jim Covello, the head of global equity research at Goldman Sachs, offered a warning on the AI play in June.
高盛的全球股票研究主管Jim Covello在6月份发出了对AI市场的警告。
"AI technology is exceptionally expensive, and to justify those costs, the technology must be able to solve complex problems, which it isn't designed to do," Covello said. "...In our experience, even basic summarization tasks often yield illegible and nonsensical results."
“AI技术非常昂贵，为了证明这些成本，技术必须能够解决复杂的问题，其本身并没有被设计为这样做，”Covello说。“即使是基本的摘要任务也经常产生难懂和毫无意义的结果。”
Price Action: Investors did not seem to heed Citi's warning on Tuesday.
投资者在周二似乎并未听取花旗的警告。
- Super Micro Computer Inc (NASDAQ:SMCI) traded at $927.01, up 3.08%.
- NVIDIA Corp (NASDAQ:NVDA) traded at $133.58, up 4.19%.
- Micron Technology Inc (NASDAQ:MU) traded at $134.04, up 2.56%.
- Applied Materials, Inc (NASDAQ:AMAT) traded at $250.01, up 1.51%.
- Roundhill Magnificent Seven ETF (NASDAQ:MAGS) was up 1.09%.
- Super Micro Computer Inc（NASDAQ：SMCI）以927.01美元的价格上涨3.08％。
- NVIDIA Corp（NASDAQ：NVDA）以133.58美元的价格上涨4.19％。
- Micron Technology Inc（NASDAQ：MU）以134.04美元的价格上涨2.56％。
- 应用材料公司（NASDAQ：AMAT）以250.01美元的价格上涨1.51％。
- Roundhill科技七巨头ETF（NASDAQ：MAGS）上涨1.09％。
(All share price data taken from the time of writing.)
（所有股价数据均为文本撰写时的数据。）
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Photo: shutterstock