New York (CNN) — Is the artificial intelligence boom on Wall Street a bubble primed to burst or the real deal?
That’s the question investors have wrestled with since the Magnificent Seven tech stocks began turbocharging a powerful market rally last year.
“A new bubble within a bubble like this, even one limited to a handful of stocks, is totally unprecedented,” he wrote in a Monday blog post.
“The long-run prospects for the broad US stock market here look as poor as almost any other time in history,” he wrote.
Still, the notorious market bear sees some areas of opportunity in the stock market.
Persons:
—, Jeremy Grantham, ”, Grantham, Granthan, “, Hanna Ziady, Abu, Adnoc, NewMed Energy’s, Gan, Marc Stewart, Wayne Chang, ByteDance, ” Wang Wenbin, Wang
Organizations:
CNN Business, Bell, CNN, ” Tech, Monster, Nvidia, Boston, Federal Reserve, ChatGPT, BP, UAE, United Arab Emirates, NewMed Energy, Energy, Starbucks, McDonald’s, KFC, CNN Wednesday
Locations:
New York, Grantham, Israel, Gaza, Tel Aviv, China, America, American, Beijing