Reported 6 months ago
Fundstrat's Tom Lee predicts that a global labor shortage of around 80 million workers by 2030 will drive technology stocks to surge, with the sector potentially growing to 50% of the S&P 500. Lee attributes this growth to AI addressing the labor shortage and boosting productivity, leading to an estimated $3.2 trillion annual spend on AI tech by companies. He highlights Nvidia's potential benefits from this trend, emphasizing that the current situation is reminiscent of past instances where global labor shortages led to significant growth in technology stocks.
Source: YAHOO