Page 20 - Nalyst Note News Today

"The hype around AI risks creating the second tech bubble in just three years. However, there are no signs of 'absolute insanity' in stocks."

The key to Nvidia's success is its full-stack platform that combines both the hardware and software necessary for generative artificial intelligence.

"Most despicable is that the bull has the chutzpah to charge ahead when almost everyone agrees a recession is coming any day now," Ed Yardeni said.

"Yesterday's rebound gives the S&P 500 a better chance of confirming last week's breakout above cloud-based resistance [of] 4,155," Stockton said.

The bank upgraded its S&P 500 2023 earnings per share estimate to $215 from $200 due to first-quarter earnings strength.

"If their greatest fears do not materialize or get pushed deeper into the future, this would increase the risk for catch-up rally," BofA said.

"The vast majority of what we see continues to look positive and we expect more solid gains from stocks the rest of this year," Ryan Detrick said.

"We can spend a lot less time obsessing about what the Fed will do next and focus on how technology is boosting productivity," Ed Yardeni said.

"This will likely pressure spending as borrowers manage their finances and could also lend to an increase in delinquencies," BofA said.

"In a continuing secular bull, the major benchmarks could be expected to keep trending upward on their way to record highs," NDR's Tim Hayes said.