The Artificial Intelligence (AI) Boom Could Send the S&P 500 50% Higher by 2025, According to Wall Street
Several Wall Street firms are exceedingly bullish on artificial intelligence (AI). Goldman Sachs recently said the S 500 was undervalued due to the AI boom. Meanwhile, Bank of America, BMO Capital Markets, and RBC Capital have all referenced AI when increasing their year-end forecasts for the benchmark index.
Last week, consultancy Capital Economics came out with the most bullish call to date. The firm raised its 2025 price target for the S 500 to 6,500. That implies 50% upside from its current level, or returns of 17.6% annually over the next two-and-a-half years, which is well above the long-term average.
The frenzy surrounding AI has been a long time coming. But OpenAI provided the spark when it launch its viral application ChatGPT in November, and Nvidia fanned the flames when it reported better-than-expected results last quarter and guided for record revenue in the current quarter.
Source Fool.com
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