The Role of Artificial Intelligence in the Surge of US Technology Stocks
The US technology stocks are currently experiencing a strong surge, primarily driven by the fascination and expectations surrounding Artificial Intelligence (AI). Robert Halver, head of capital market analysis at Baader Bank, emphasizes that the USA continues to function as a “stock market burner” and that particularly the high-tech industry remains robust despite geopolitical uncertainties and trade conflicts.
A More Pragmatic Trading Approach
Halver highlights that the US markets benefit from a more pragmatic stance in the trade conflict with China. The basic tariffs are around 10 percent – a level that investors can live with. Additionally, he does not see the high borrowing in the USA as a burden, but rather as a targeted investment in reindustrialization and economic substance through tax incentives and energy supply. This provides a stable capital market sentiment despite a weak US dollar.
Outlook on Interest Rate Policy
Looking at potential interest rate cuts by the Federal Reserve, Halver expects further tailwinds for tech stocks: A low interest rate encourages investments in growth sectors such as technology.
Comparison with the German Stock Market
In contrast, the German stock market (DAX) plays a rather subordinate role in international comparison despite its all-time highs. Halver warns against complacency in light of this development. According to him, Europe – represented by the DAX – cannot keep up with the technological lead of the USA. The American high-tech industry benefits from a special cycle due to AI applications, while Europe functions more as a “hedge” against developments in America.
In summary, it can be said:
- US technology stocks benefit greatly from AI fascination and show resilience against political uncertainties.
- The DAX reaches record levels, but remains internationally in the shadow of the US market.
- Europe cannot keep up technologically with the USA, as shown by the profit differences between American and European companies.
- Investors should be cautious as complacency in the German market is misplaced.
These assessments come directly from statements by Robert Halver on wO TV as well as interviews on Inside Wirtschaft.