Fidelity fund manager resets tech stocks forecast for 2026

The S&P 500 is on track to finish the year up 16%, delivering a third consecutive year of double-digit returns that outpace historical averages. The gain, which comes on top of a whopping 23% and 26% return in 2024 and 2023, respectively, is mainly due to surging interest in artificial intelligence and a friendlier Federal Reserve. The rise of AI, sparked by the massively successful launch of OpenAI's ChatGPT three years ago, has drawn comparisons to the dawn of the Internet. Big tech has already spent h ...