The 'Magnificent 7' stocks are struggling, shedding a staggering $1.2 trillion in market value since US equities peaked in July

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The Magnificent Seven
The "Magnificent 7" stocks have plummeted since the S&P 500 peaked at the end of July.

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Nvidia's stock price feels the full September effect, suffering a $180 billion wipeout

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Nvidia
Jensen Huang, CEO of NVIDIA, speaks during a press conference at the Computex 2023 in Taipei on May 30, 2023.

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Retail investors pile into Arm stock on the first day of trading, seeking greater exposure to the AI boom

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arm ipo semiconductor chipmaker

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There's no bubble in AI stocks – we are in the early stages of a tech cycle that should see further outperformance, Goldman Sachs says

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  • The breakneck rally in AI stocks has prompted unflattering comparisons with the dot-com bubble of the late 1990s.
  • But Goldman Sachs argues there's no bubble in AI stocks, and suggests they have more room to run.
  • "We are still in the relatively early stages of a new technology cycle that is likely to lead to further outperformance," a strategist at the bank said.

A stunning surge in artificial intelligence-related tech stocks has been the top US stock-market story of the year, with the likes of Nvidia delivering triple-digit returns.

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