Even as the S&P 500 (SP500) trades near record highs, BlackRock argued that it is staying overweight U.S. stocks based on the artificial intelligence (AI) theme that has propelled the tech sector higher.
Moreover, the world’s largest asset manager indicated that it is less concerned than many about the narrow group of tech stocks that are driving market gains for two key reasons.
“First, excitement over AI is being met by tech firms delivering on and beating high earnings expectations. Second, profit margins for tech are leading the market, but they’re also recovering in other sectors as cooling inflation eases costs pressures on margins.”
Separately, BlackRock said that it also favors the industrial sector because it will help build out the infrastructure needed for artificial intelligence.
For investors that are looking to further examine and understand the artificial intelligence trend, they may look towards the below group of exchange-traded funds for additional information:
- GX Artificial Intelligence & Tech ETF (NASDAQ:AIQ)
- GX Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ)
- ALPS Disruptive Technologies ETF (DTEC)
- Goldman Sachs Innovate Equity ETF (GINN)
- iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO)
- Artificial Intelligence and Robotics ETF (NASDAQ:ROBT)
- iShares U.S. Tech Breakthrough Multisector ETF (TECB)
- iShares Exponential Technologies ETF (XT)
- Robo Global Artificial Intelligence ETF (THNQ)
- Roundhill Generative AI & Technology ETF (CHAT)
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