ETF Edge
AI Trade Losing Its Sizzle? 8/21/23
Aug 21, 2023
Jon Maier, CIO of Global X, and Todd Sohn, ETF and Technical Strategist at Strategas Securities, discuss the decline of AI trade, practical applications of AI in industries like infrastructure and cloud services, covered call ETFs, and analyzing emerging markets. They also touch on the impact of interest rates and China on the market.
26:57
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Quick takeaways
- AI ETFs experienced a decline in August due to factors such as strong interest rates impacting the markets and investors taking a second look, but it's important to note that the decline is not solely due to artificial intelligence as these ETFs also have holdings in industrials.
- Industrial companies like Intuitive Surgical and Dynatrace, which enhance efficiency and automation for other companies, are a crucial component of AI-focused ETFs, highlighting the diverse opportunities in the AI sector beyond just artificial intelligence itself.
Deep dives
AI ETFs performance in August
AI ETFs, which were strong performers in the first half of the year, experienced a decline in August. This can be attributed to factors such as strong interest rates impacting the markets and investors taking a second look. However, it is important to note that the decline is not solely due to artificial intelligence, as these ETFs also have holdings in industrials. Industrial companies, such as Intuitive Surgical and Dynatrace, contribute to enhancing efficiency and automation for other companies, making them a crucial component of AI-focused ETFs.
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