Executive Summary
Goldman's ETF trading desk recorded the largest shorting of US single stocks in their prime data history and the worst hedge fund performance day since COVID on February 4th, despite the S&P being flat. This positioning extreme creates a tactical buying opportunity as the underlying bull market drivers remain intact. The firm's data shows $700 billion in hyperscaler CAPEX spending is flowing through to semiconductors while software has re-rated from 35x to 20x forward PE. Three key tensions are ...
Key Investment Opportunity
AI Productivity Theme
Non-tech companies adopting AI for operational efficiency and margin expansion represent the next phase of AI investment beyond infrastructure
...and 1 more investment opportunities
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