Deutsche Bank AG(US:DB) Sou Hu Cai Jing·2025-11-25 09:32Core Viewpoint - Concerns about an AI bubble are unlikely to lead to a broad market decline, with recent pullbacks seen as a result of "extreme position unwinding" [1] Group 1: Market Sentiment - The report by Deutsche Bank strategists, including Maximilian Uleer and Carolin Raab, indicates that worries regarding investment cycles and AI monetization will persist but are not seen as urgent [1] - The adjustment of earnings expectations for the seven major tech stocks is viewed positively, suggesting resilience in their financial outlook [1] Group 2: Economic Outlook - Should the economic outlook worsen, these tech giants have the capacity to adjust their capital expenditures accordingly [1] - If concerns about a bubble continue, the Federal Reserve retains the option for further interest rate cuts [1]