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
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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.
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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.
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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.
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