The rally in AI stocks may not be over yet, but the coming weeks could bring additional pressure on recently underperforming shares.

A team of strategists at Evercore ISI led by Julian Emanuel said factors that would end the bull market have yet to come. However, seasonal tax considerations combined with potential IPOs by OpenAI and Anthropic could squeeze some stocks.

The Evercore team noted that the market may be inclined to view a June listing by SpaceX as marking the peak of the technology boom, similar to how the AOL-Time Warner merger in January 2001 was seen as a signal of the dot-com bubble peak. However, the firm believed a SpaceX IPO would be more comparable to Netscape's 1995 listing, when the internet was at a stage similar to AI today.

Stocks on Evercore's screened list ranked by market cap include Tesla (TSLA.US), IBM (IBM.US), American Express (AXP.US), McDonald’s (MCD.US), S&P Global (SPGI.US), Lowe’s (LOW.US), AppLovin (APP.US), HCA Healthcare (HCA.US), Boston Scientific (BSX.US), Medline (MDLN.US), Rocket Cos (RKT.US), Martin Marietta Materials(MLM.US), Zoetis(ZTS.US), Las Vegas Sands(LVS.US), Fiserv(FISV.US), Coupang(CPNG.US), Otis Worldwide(OTIS.US), NRG Energy(NRG.US), AST SpaceMobile(ASTS.US), Markel(MKL.US), First Solar(FSLR.US), Fidelity National Information Services(FIS.US), Equifax(EFX.US), Lennar(LEN.US), Fair Isaac Group(FICO.US), FedEx Freight(FDXF.US), Tyson Foods(TSN.US), Flutter Entertainment(FLUT.US), Rollins(ROL.US), The Carlyle Group(CG.US), Somnigroup International(SGI.US), RB Global(RBA.US), Talen Energy(TLN.US), Albemarle(ALB.US), McCormick & Co. (MKC.US), QXO (QXO.US), Lennox International (LII.US), Dick’s Sporting Goods (DKS.US), Fidelity National Financial (FNF.US) and DraftKings (DKNG.US).
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AASTOCKS Financial News
Website: www.aastocks.com

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