Tek-aksjer slår tilbake i avgjørende uke på Wall Street

Wall Street experienced a turbulent week last week, with tech stocks hitting a low on Wednesday before falling further on Friday. This week, however, the mood appears more optimistic. In early trading around 2:15 PM, AI and chip stocks were among those that slipped. The results story on Wall Street is underway, making this a potentially significant week for tech stocks.

Key tech companies like SpaceX are set to release their quarterly earnings on Tuesday evening, followed by Meta and Tesla on Wednesday evening. Other notable companies releasing data throughout the week include Netflix, IBM, and Exxon Mobil.

Concerns over rising prices, higher interest rates, and expensive financing for massive AI investments by tech companies weighed on Wall Street last week. Finance fears took precedence over excitement, according to Aneeka Gupta, head of analysis at WisdomTree. She told Bloomberg that this week's bounce is both credible and justified.

Nils Kristian Knudsen, chief strategist at Handelsbanken, believes that the current bounce resembles a rotation more than a flight from stocks. He reminds that "no one doubts the strength of the AI demand." The question investors now face is what massive investments in AI will ultimately deliver. Data centers and chips are costly, and with rapid technological progress, the equipment quickly becomes outdated.

Companies may improve profitability even as they become riskier investments if they have to pump in more money to keep up, Knudsen writes in a note. Oil prices also rose towards the end of the previous week but have since fallen slightly. Brent spot price is currently at $108.1 per barrel, down 1.4 percent since midnight.