AI and Big Tech Redefine Stock Market Valuations
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Wall Street's valuation playbook is undergoing a radical rewrite. Where stretched multiples once signaled danger, artificial intelligence and Big Tech's earnings power now justify premium pricing. The S&P 500's dot-com-era valuations return, but with a critical difference: today's tech titans combine profitability with disruptive innovation.
Bank of America strategists confirm the paradigm shift, labeling elevated multiples as sustainable. The 'Magnificent Seven'—Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta—have evolved from disruptors to market infrastructure. Their AI capabilities and cash flows now anchor global equity valuations.
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