AI Stocks Struggle

Financial Research, Money Management • Aug 7, 2024 at 3:30 PM EDT

While AI stocks performed extremely well in 2023 and the early part of 2024, they've had trouble over the last few months, especially more recently.

Photo by Steve Johnson on Unsplash

AI Takes a Breather

We created a basket of AI stocks a while back as a way to monitor how the space is doing and to potentially find individual stock ideas. While AI stocks performed extremely well in 2023 and the early part of 2024, they've had trouble over the last few months, especially more recently. While our AI basket is still up significantly more than the broad market since the start of 2023, it is now performing in line with the S&P 500 Equal Weight index on a year-to-date basis, and it has really gotten beat up so far this month.

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Disclaimer:

To learn more about our AI basket and have a look at the 50 individual names that are included, simply sign up for Bespoke Institutional with our Dog Days Special. You'll get updates daily in our post-market macro note, The Closer, and we're currently working on a "deep-dive into AI" report that will be published later this week.

Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. This is not personalized advice. Investors should do their own research and/or work with an investment professional when making portfolio decisions. As always, past performance of any investment is not a guarantee of future results. Bespoke representatives or clients may have positions in securities discussed or mentioned in its published content.

For more global markets and macroeconomic coverage, make sure to check out Bespoke’s Morning Lineup and nightly Closer notes, as well as our weekly Global Macro Dashboard. Start a two-week free trial to Bespoke Institutional to access The Closer and the rest of Bespoke’s suite of Institutional products.

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AI Takes a Breather

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