The Role of Artificial Intelligence in the Surge of US Tech Stocks
US tech stocks are currently experiencing a robust surge that is largely driven by the fascination and expectations surrounding Artificial Intelligence (AI). Robert Halver, head of capital market analysis at Baader Bank, emphasizes that the US continues to act as a “stock market burner” and particularly the high-tech sector remains resilient despite geopolitical uncertainties and trade conflicts.
A More Pragmatic Trading Approach
Halver highlights that the US markets are benefiting from a more pragmatic attitude in the trade conflict with China. The base tariffs are around 10 percent – a level that investors can live with. Furthermore, he does not view the high level of borrowing in the US as a burden but rather as a targeted investment in re-industrialization and economic substance through tax relief and energy supply. This leads to a stable capital market sentiment despite a weak US dollar.
Outlook on Monetary Policy
Looking ahead to potential interest rate cuts by the Federal Reserve, Halver expects further momentum for tech stocks: A lower interest rate promotes investments in growth sectors such as technology.
Comparison with the German Stock Market
In contrast, the German stock market (DAX), despite its all-time highs, plays a rather subordinate role in the international comparison. Halver warns against complacency in light of this development. Europe – represented by the DAX – cannot keep up with the technological lead of the US, he claims. The American high-tech sector benefits from a special economic boom due to AI applications, while Europe acts more as a “hedge” against developments in America.
In summary, one can say:
- US techs are strongly benefiting from AI fascination and are proving resilient against political uncertainties.
- While the DAX reaches record levels, it remains in the shadow of the US market internationally.
- Europe cannot keep up technologically with the US, as evidenced 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 made by Robert Halver on wO TV and interviews on Inside Wirtschaft.