Gene Munster sees 2x growth in Nasdaq in three years: here’s why
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Gene Munster is now calling for a “three-to-five-year bull market” even though he agrees that “inflation does matter in the near-term”.
Munster cites AI for his bullish view
The high-level executive of Deepwater Asset Management finds it conceivable that the U.S. Federal Reserve will decide against delivering the broadly expected rate cut in June.
His view stems partially from inflation that stood at 3.1% in January versus the Dow Jones estimate of 2.9% as Invezz reported here.
Still, Munster recommends investors to not worry about the “next three-to-six-months” and focus more on what artificial intelligence may deliver over the longer term.
He is, therefore, convinced that “it’s wise to be mostly in [the market] now” despite uncertainty related to when the central bank will begin cutting rates.
Watch here: https://www.youtube.com/embed/VQKF2PqiSz0?feature=oembedAI is almost as big as electricity
If electricity is a 100 on a spectrum of paradigm shifts – artificial intelligence, Munster said on CNBC’s “Squawk Box” today, is a 99; and that too only because “you need electricity to power AI”.
He’s convinced that the Nasdaq Composite could “move up 2x” over the next two or three year if artificial intelligence proves out to be “even half as big [a paradigm shift] as I think”.
“IXIC” is already up well over 100% versus its pandemic low at writing.
According to Statista, AI would likely be a $2.0 trillion market by the end of this decade versus about $200 billion only at the end of 2023.
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