Ben Snider and Peter Callahan discuss the concentration of the US stock market on the podcast. They analyze the dominance of tech stocks, market bubbles, valuation metrics, and the risks associated with the largest US stocks. The conversation highlights the implications for investors and the importance of understanding the current market environment.

After a sharply disappointing performance in 2022, tech stocks are roaring back. But is the latest revival just a short-term blip? Or is there a new growth phase ahead for the tech sector? In this episode, Ben Snider, a senior strategist in Goldman Sachs Research, and Peter Callahan, who covers the tech sector for Global Banking & Markets, break down big tech earnings, new developments like generative AI, and the risks investors are focused on. 

Goldman Sachs' Peter Callahan discusses big tech's earnings in a 'bifurcated market.' Topics include positive cloud business trends, AI investments, advertising, and capital expenditure impact. Also covers stock buybacks by Google and Apple, surplus cash strategies, and market performance.