Mark Mahaney, head of internet research at Evercore ISI, and Jason Snipe, founder and CIO at Odyssey Capital Advisors, joined ‘Closing Bell’ to discuss the earnings of mega-cap tech companies and their positions in the AI race.
Results for: Mega-cap Tech Earnings
In the wake of the recent mega-cap tech earnings releases, CNBC’s ‘Closing Bell’ invited Mark Mahaney of Evercore ISI and Jason Snipe of Odyssey Capital Advisors to delve into the competitive landscape and identify the frontrunners in the burgeoning AI arena. Their insights shed light on the key players making strides in this transformative technology.
JPMorgan analysts have identified an attractive set-up for the S&P 500, based on their US Tactical Positioning Monitor, which triggered a level similar to late August and late October 2023 lows. Historically, when the indicator has reached this level, the US equity benchmark has gained approximately 3% within the following 20 days. The analysts anticipate the tactical bounce to continue, citing upcoming megacap tech earnings and PCE releases as key factors. They suggest that the market may overshoot to the upside if these releases are favorable, with tech and value stocks leading the surge, and artificial intelligence trades resuming.