Ladner: This is still a tech-driven, AI-driven market

Investment Sectors & Opportunities - JP Morgan highlights tech, communication services, and financials as sectors expected to see improved earnings growth [1] - The market is currently driven by tech and AI, emphasizing the need for infrastructure development to support AI's growth [2] - Infrastructure play related to AI is considered undervalued, especially looking into the next year [7] - Healthcare sector is outperforming, potentially due to being undervalued and the prospect of AI aiding drug development and productivity [8][9][10] AI & Tech Market Dynamics - AI infrastructure build is estimated to be a multi-trillion dollar endeavor [4] - AI build is being funded through cash flows and operating profits, unlike the debt-funded builds of the late 90s and early 2000s [5] - The AI trade exhibits circularity [2] Market Risks & Concerns - There are questions about the valuations of some tech companies and their funding [3] - Retail investors are showing behavior similar to the 2021 meme stock surge, with increased call option buying [12] - A meme stock ETF is up almost 13%, indicating speculative behavior in the market [11]