Stock Market Rally: Fundamentals vs FOMO
Many Happy Returns
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The Rise of the AI Revolution
We've seen a reversal of what happened last year, which is that energy was the really successful sector. But now we're seeing revenue growth year on year, fall by about 24% in the energy sector and around 5%, just over 5% in materials. And even information technology is falling year on year because people are cutting back on their IT spend. I think ultimately, you've got to generate earnings in some way, and transforming this AI revolution into something which is highly profitable is going to be the problem.
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