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Why you shouldn't worry about AI eating the stock market, top analyst says. The U.S. economy is ‘about to take off' [Fortune]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
stocks with the seeming superpowers of its Claude chatbot, prompting a selloff across the software sector with potential obsolescence suddenly knocking at the door. Recommended Video Marta Norton, chief investment strategist at Empower Investments, told Axios that it reminded her of the displacement of BlackBerry when iPhones redefined what a smartphone looked and felt like. Technically, the company survived, but BlackBerry stock is down 98% since 2008. Bloomberg calculated that roughly $1 trillion of market value evaporated within a week. Still, one of Wall Street's top voices sees a very different reality for the economy as a whole: a boom. As investors fret over volatility in the tech sector and the potential for an AI bubble to burst, Torsten Slok, chief economist at Apollo, urged investors to look past the noise. The anxieties surrounding the software industry are unlikely to drag down the broader economy, he argued in his widely read Daily Spark column In a research no
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