‘Big Short’ investor Steve Eisman says you have to own big tech
Senior portfolio manager Steve Eisman foresees prolonged strength in US megacap tech stocks driven by AI accessibility. Eisman recommends owning large-cap tech stocks like Apple, Nvidia, Microsoft, and Oracle. Despite concerns about Nvidia's valuation, Eisman remains optimistic about its future earnings growth. He also predicts a Trump victory in November.
's expects the outsized strength in will "last for years," as becomes more accessible to consumers via electronic devices.People will want new on cellphones and personal computers, spurring the "biggest refresh cycle in history" as they purchase upgraded gadgets, he told Bloomberg Television in an interview on Thursday.
"You have to own the big, large-cap tech stocks," said. That demand is poised to keep benefiting companies like , Nvidia, , and Oracle, said Eisman, a senior portfolio manager at Neuberger Berman. While may be considered expensive at its high valuation, that really isn't a concern since earnings have tripled, Eisman said.
Eisman's words attract notice on Wall Street because he made a name for himself with his "Big Short" bet against subprime mortgages ahead of the global financial crisis. He has said he owns "a lot" of stock in Nvidia - an equity story that he sees running for years.
He also offered a political prediction in a week framed by the crisis gripping President Joe Biden's campaign and Donald Trump's march to the Republican nomination: Trump will win in November, whether or not Biden stays on the Democratic ticket.
Source: Stocks-Markets-Economic Times
