Reported about 1 year ago
Bank of America reports that the ongoing AI frenzy has driven record inflows into tech funds, with about $8.7 billion flowing in through June 19. The surge in Nvidia Corp.'s market cap to $3.3 trillion briefly surpassed Microsoft Corp., leading to Wall Street strategists raising year-end S&P 500 targets. However, concerns regarding equity concentration risk persist, particularly with European stocks faltering due to French political turmoil, as European equity funds saw outflows while global equity funds had significant additions.
Source: YAHOO