'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）股票在推動標普500指數在2024年創下歷史新高方面起到了重要作用。雖然AI股票表現不俗，股價迅速上漲，但一些專家對此持懷疑態度，認爲這波漲勢是否能繼續。
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分析師：花旗（Citi）分析師Drew Pettit在週一的一份報告中告訴投資者要在AI股票達到高位時“拋售”。Pettit的論點在彭博社的報道中披露。
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.
主要觀點：該分析師指出，儘管“在買賣方面對抗AI將對很多人構成挑戰”，投資者應將組合從高飛者中平衡出來，向價格更便宜的AI公司調整。Pettit對芯片製造商的持續表現持有懷疑態度。
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.
少數幾隻AI股票在表現上遠超過標普500指數，並且在指數中佔據了很大比重；因此，股市現在依賴於AI的表現來維持其漲勢。
Pettit stopped short of labeling the AI rally as a "bubble."
Pettit沒有將AI的漲勢稱爲“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."
“我們的估計表明股價暗示着高妙但一致的估計，而長期一致預期估計表明這些估計是可實現的，”該分析師說。“基本上，情緒非常樂觀，但仍然不足以構成完全的泡沫。”
Goldman Sachs Weighs In: Citi's relative pessimism on some AI companies comes amid other analysts' comments on AI.
高盛的觀點：花旗對一些AI公司的相對悲觀情緒與其他分析師對AI的看法形成對比。
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月份發出了對AI市場的警告。
"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技術非常昂貴，爲了證明這些成本，技術必須能夠解決複雜的問題，其本身並沒有被設計爲這樣做，”Covello說。“即使是基本的摘要任務也經常產生難懂和毫無意義的結果。”
Price Action: Investors did not seem to heed Citi's warning on Tuesday.
投資者在週二似乎並未聽取花旗的警告。
- 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美元的價格上漲3.08％。
- NVIDIA Corp（NASDAQ：NVDA）以133.58美元的價格上漲4.19％。
- Micron Technology Inc（NASDAQ：MU）以134.04美元的價格上漲2.56％。
- 應用材料公司（NASDAQ：AMAT）以250.01美元的價格上漲1.51％。
- Roundhill科技七巨頭ETF（NASDAQ：MAGS）上漲1.09％。
(All share price data taken from the time of writing.)
（所有股價數據均爲文本撰寫時的數據。）
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Photo: Shutterstock
Photo: shutterstock