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Here's what an analyst says could end the AI panic that's gripped Wall Street [Business Insider]
Last nvidia corporation earnings: 2/13 04:20 pm
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Have an account? Log in Fears of AI disruption have tanked everything from software to trucking stocks. Wedbush's Dan Ives says the narrative could be dispelled by a few positive headlines. Here's what he thinks it'll take to get investors excited again. Investor sentiment about is a powerful but fickle force in markets, illustrated most recently by the panic that's gripped Wall Street about the possibility that AI threatens certain stock sectors. Excitement for AI abruptly turned to panic earlier this month, as stocks in software, wealth management, insurance, and logistics all plunged as AI companies unveiled new tools for those industries. Wedbush analyst Dan Ives described the moves as "fighting a ghost," with investors unsure where the panic will strike next. "Today the "AI is a threat to every industry narrative....with software front and center as enemy #1" trade in this market … For the bulls its like fighting a ghost, while the cap-ex dollars approach ~$700 bil
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