From Yahoo Finance: 2024-04-28 12:22:14

The AI craze has reignited on Wall Street as investors flock back in after strong quarterly results from Microsoft and Alphabet, along with a successful IPO debut for Rubrik. Both Alphabet and Microsoft hit milestones with market caps surpassing $2 trillion and $3 trillion respectively. The S&P 500 and Nasdaq had their best week of the year thanks to outperformance by big tech. Analysts are bullish on the sector’s growth, with AI driving revenue jumps in companies like Microsoft, Google, and potentially Meta. Amidst high valuations, upcoming earnings reports from Amazon and Apple will be a crucial test for the AI trade.



Read more at Yahoo Finance: The AI trade is back, as confidence in Big Tech surges