Investors may want to exercise some caution with this year's leading artificial intelligence stocks, according to Bank of America.
The investing and ETF strategist anticipates some profit-taking in megacap technology stocks during the second half as investors become "impatient for an AI killer app" or more revenues.
Stocks have rallied this year as investors mount bets on popular AI names such as Nvidia and megacap technology.
"No one denies the computing power," Woodard wrote.
This includes small-cap value stocks, utilities, energy and banks.
Persons:
Jared Woodard, Stocks, Woodard
Organizations:
Bank of America, Nvidia
Locations:
India, Latin America