AI-related companies to drive most third-quarter US earnings gains
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓US companies are set for another earnings surge in the third quarter, with AI-related firms driving most gains.
- ✓Sameer Samana of Wells Fargo said, "It wouldn't surprise me if 70-80% of the growth can be attributed to tech and AI." Many investors now worry about how long this trend lasts.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
NEW YORK, Oct 9 (Reuters) - US companies are likely to deliver another earnings surge for the third quarter, and like the rally in the stock market, AI-related players are fueling most of those gains.
While investors are enthusiastic about the hyper earnings growth fueled by AI companies, many are also worried about how long the trend can continue, and what will happen to share prices when it ends.
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"It's all AI and, to a lesser extent, energy and materials, but that's because of geopolitics," said Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute. "It wouldn't surprise me if 70-80% of the growth can be attributed to tech and AI."
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Reuters
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