Bullish AI-stock calls and mutual funds’ below-benchmark exposure
Benzinga reports bullish views from Dan Ives and Tom Lee. The Kobeissi Letter says large-cap mutual funds are about 1.75 percentage points underweight AI-exposed stocks versus their benchmarks, excluding six mega-cap names.
TLDR
On September 22, 2026, Benzinga said Dan Ives sees tech stocks in a “1997 moment,” not a 1999–2000 bubble, arguing that the AI spending cycle is still early. It also quoted Tom Lee saying the “probability of a massive rally” is high as earnings outpace the broader market.
The same day, The Kobeissi Letter said large-cap mutual funds were about 1.75 percentage points underweight AI-exposed stocks versus their benchmarks—the largest such gap on record. The figures exclude Amazon, Broadcom, Alphabet, Meta, Microsoft and Nvidia. It put AI-exposed holdings at 13.0% of the average large-cap mutual fund portfolio, compared with 14.8% in their respective benchmarks.
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