Goldman Trading Desk Says It’s Time to Buy the Dip in AI Stocks
- ‘There’s too much pessimism around AI’: Goldman’s Mourad
- Bank sees AI companies’ earnings doubling in next 12 months
This article is for subscribers only.
Artificial intelligence-related stocks have taken a beating recently, but with lower interest rates on the way and fundamentals remaining strong, Goldman Sachs Group Inc.’s trading desk thinks it’s time to buy the dip.
“We expect lower interest rates could support IT projects, economic policy to become less uncertain after the election, and tangible progress with AI products to be presented in upcoming conferences,” Faris Mourad, vice president of Goldman’s US custom baskets team, wrote in a note to clients on Thursday.