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The bank’s research team, led by Chief Investment Officer Mark Haefele, believes that these tech stocks are currently undervalued. They anticipate a valuation rebound as investors recognize the potential of AI in enhancing earnings and capitalizing on new products.
UBS further predicts a substantial expansion of the AI industry. The bank projects that this sector will grow from $2.2 billion in 2022 to an impressive $170 billion by 2027. This growth is expected to contribute to 20% of the tech sector’s total earnings growth next year, following a surge powered by ChatGPT.
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