Yardeni Says He Hasn't Been Bullish Enough on Earnings
Спикеры
Ed Yardeni
— Президент, Yardeni Research
Ed Yardeni, president of Yardeni Research, lays out a bullish US equity outlook driven by strong earnings momentum and the AI technology evolution. He raises his S&P 500 year-end target to 8,400 and notes a rotation from the Magnificent 7 into the broader market due to AI fatigue. He also sees a comeback for cybersecurity stocks as AI advances increase the need for protection.
- Yardeni raises S&P 500 year-end target from 8,250 to 8,400 on strong earnings momentum.
- He sees potential for S&P 500 to reach 10,000 by the end of 2029.
- AI fatigue is causing a rotation from Magnificent 7 to the rest of the market.
- Financials, healthcare, and industrials are highlighted as beneficiaries of the rotation.
- Cybersecurity stocks are poised to benefit from advancing AI technology.
- He views 10-year Treasury yields between 4% and 5% as normal and not alarming.
Идеи
Earnings-driven bull market to new highs
Ed Yardeni believes the S&P 500 will continue to rise, driven by strong earnings momentum, a resilient economy, and reasonable valuations around 20x forward earnings. He raised his year-end target from 8,250 to 8,400 and sees potential for 10,000 by 2029 as part of the 'roaring 20s' decade.
Rotation from Mag 7 into broad market
Investors are experiencing AI fatigue with the Magnificent 7, causing a rotation into the 'impressive 493' — the rest of the S&P 500. These broader market stocks, especially in financials, healthcare, and industrials, have understandable businesses and clear AI benefits, and they have outperformed the Mag 7 this year.
AI spurs renewed cybersecurity demand
As AI technology advances and becomes smarter, the need for cybersecurity protection will increase significantly, leading to a comeback in cybersecurity stocks that had previously fallen out of favor.
Далее
This Bloomberg Markets video, published August 12, 2026, features Ed Yardeni discussing SPY, S&P 500 ex-Magnificent 7, CIBR. 3 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Ed Yardeni · Tickers: SPY, S&P 500 ex-Magnificent 7, CIBR