Pierre Ferragu 5.4 1 idea
Analyst, New Street Research
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The "Mag 7" stocks have de-rated and are trading at their lowest premium to the market in seven years. The market is pricing in uncertainty about future cash flows, but Ferragu argues the earnings power is sustainable and the AI investment cycle is still in the deployment phase. The valuation compression makes them "deep value" relative to their growth. LONG. Valuation support is now present for big tech. Regulatory crackdowns or a cessation of AI spending.
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Bloomberg Markets
Feb 26, 17:17
Analyst, New Street Research