Why 2023’s biggest stock market story has staying power
Joining Kyle to explain why AI has plenty of staying power is Stephen Yiu, fund manager of the Blue Whale Growth fund.
30th November 2023 11:16
Share on
You can also listen on: Spotify, Apple Podcasts, Amazon, Google Podcasts
Arguably the main stock market story of 2023 has been the strong share price performances of the so-called Magnificent Seven US technology companies. These household names have seen their share prices boosted by excitement around the potential of artificial intelligence (AI), which is predicted to disrupt various industries.
- Invest with ii: Buy Global Funds | Top Investment Funds | Open a Trading Account
Joining Kyle to explain why AI has plenty of staying power is Stephen Yiu, fund manager of the WS Blue Whale Growth fund. Yiu, who holds NVIDIA Corp (NASDAQ:NVDA) and Microsoft Corp (NASDAQ:MSFT) among his largest holdings, points out that there will only be a handful of big winners from the AI trend. He also explains why he has on two occasions this year been forced to take some profits from Nvidia, reveals he is revisiting buying back into Meta Platforms Inc Class A (NASDAQ:META), and gives his outlook for global equites in 2024.
Please continue to provide your suggestions on questions you want answered on OTM@ii.co.uk.
On The Money is an interactive investor (ii) podcast. For more investment news and ideas, visit https://www.ii.co.uk/stock-market-news.
Kyle Caldwell is collectives editor at interactive investor.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.