Core Viewpoint - The AI-driven stock market boom is a significant feature of the "K-shaped" economy, which also increases risk levels. Concerns about an impending AI bubble burst are considered exaggerated, with expectations for steady growth in AI investment by 2026 [1] Group 1: AI and Market Dynamics - The current AI boom has not yet entered a bubble phase, with historical analysis indicating that the technology sector in the U.S. stock market remains robust [1] - A weaker dollar, declining interest rates, and low oil prices are expected to provide a solid backdrop for emerging markets' strong performance in 2026 [1] Group 2: Economic Outlook - The company holds an optimistic view on the two most influential economies, the U.S. and China, predicting GDP growth to exceed market expectations [1] - Earnings per share are expected to increase by 14%, while the S&P 500 index is projected to rise only 4-5%, with a year-end target of 7100 points [1] Group 3: Federal Reserve and Housing Market - The company anticipates the Federal Reserve will lower interest rates by 25 basis points in December and will make two additional cuts in June and July of 2026 [1] - The housing market in 2026 is expected to be a focal point, with performance dependent on Federal Reserve policies, leaning towards an upward risk [1]
美银：AI泡沫即将破裂的担忧被夸大 预期2026年AI投资仍稳健
Zhi Tong Cai Jing·2025-12-03 03:31