Ohsung Kwon of Wells Fargo Securities expects artificial intelligence to dominate the season of the third quarter results. “Apart from AI, I am not really excited by anything,” said Kwon on Monday, the strategist for business actions, in CNBC. He expects the AI request to be the main reason why the results will exceed Wall Street estimates. He maintains that the sector is not in a bubble and that investors should stick to the group because the fundamentals lead recent gains. According to Kwon, the AI trade is still in its first rounds. “I think AI has more than the Fed,” he said. Kwon’s comments occurred a few hours after publishing its first preview of the results season since the start of Wells Fargo in May. “The technological equipment spends in% of GDP remains well below the levels of PC and Internet boom,” he wrote in the research note. “The generative AI is adopted at work and at home to double speed as the Internet and Chatgpt is the consumption application for the fastest growth of all time. Software companies earn more with fewer employees.” Kwon highlighted a special model that helped build its forecasts. “We have essentially examined all the macro variables that we could find-around 350 macro variables. We followed this automatic learning process to determine where sales could be, and this always points to a fairly decent beat. So we plan a 4% beat led by AI. Sowing,” he told “fast money”. Its prediction occurs while the S&P 500 and the NASDAQ in charge of technology have closed its doors at all times. The S&P 500 has won almost 15% so far this year, while the NASDAQ has increased by almost 19% in 2025. The S&P 500 price target for next year is 7,200. This implies a 7% gain in Monday’s fence. Join us on Thursday, December 11 for a first row seat with the ultimate vacation trading experience with Melissa Lee and “Fast Money” traders, live from the Nasdaq market. Get your tickets now: CNBCEVENTS.COM/FASTMONEYLIVE WARNING
Artificial intelligence is an exciting game in gains: Wells Fargo
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