Goldman Sachs analyst predicts tech stock boost through Fed rate cuts and AI innovation

From Yahoo Finance: 2024-09-09 20:11:23

To boost big tech stocks, Goldman Sachs tech analyst Kash Rangan says it will require a combo of Fed rate cuts and innovation driving earnings growth. Fed expected to cut rates, but amount uncertain. Tech companies like Microsoft and Salesforce need AI innovation to fuel growth. Salesforce developing AI digital agents for customer service, while AMD unveils new AI chips. Despite recent dip in tech stocks, Goldman Sachs is optimistic, with strong demand for accelerated computing. Analysts remain positive on Nvidia’s stock. State Street Global Markets head argues AI sell-off may be exaggerated. Subscribe to Opening Bid for more insights.



Read more at Yahoo Finance: Here’s the ‘magical’ moment Goldman Sachs sees for tech stocks