'A broadening playbook': Wall Street sees stock market gains beyond tech

Group 1 - Investor enthusiasm for artificial intelligence is expected to drive Big Tech stocks, but gains are also anticipated in other sectors such as Industrials, Materials, Energy, and Consumer Staples, which have all outperformed the broader market by 5.5% or more [1][5] - The small-cap Russell 2000 index has risen 8% since the start of the year, outperforming the S&P 500, which is up more than 1% during the same period, indicating a broadening investment strategy [2] - Oppenheimer's chief investment strategist has set a bullish price target for the S&P 500 at 8,100, while other analysts expect it to reach 7,500 or 7,600, suggesting a rotation in investment focus without abandoning technology [3][4] Group 2 - Earnings reports from major firms like Goldman Sachs and Morgan Stanley indicate a strong year for investment banking, contributing to positive market sentiment [5] - Strong results from Taiwan Semiconductor Manufacturing Co. have boosted semiconductor stocks, reinforcing optimism about the accelerating AI cycle [5][6] - The performance of AI chipmakers highlights the expectation that artificial intelligence and technology will lead the market again this year as adoption increases across enterprises [6][7] Group 3 - The head of US equity strategy at Barclays believes that big tech and AI will remain central to the market, despite increased scrutiny around AI [7] - Software stocks, including Microsoft, Salesforce, and ServiceNow, have faced challenges as investors assess the impact of AI, indicating potential volatility in this segment [7]