Anastasia Amoroso on AI rally: 'This is early days, and there's lots of things to still do in tech'
Summary
Anastasia Amoroso discusses the AI rally as early stage with accelerating momentum, emphasizing that tech remains the core play. She recommends maintaining a US overweight in portfolios while including international exposure for diversification. Key supporting points include massive token usage growth and strong Mag Seven earnings.
- AI momentum is accelerating, not slowing, with token usage up 14x and projected 24x growth.
- Mag Seven earnings surprises of 70-90% boosted S&P 500 Q1 earnings growth to 27%.
- Shift from conversational AI to agentic AI is driving demand.
- US should remain an overweight due to tech, productivity, and tax policy.
- International equities should be part of a portfolio mix but not a replacement for US exposure.
- Hyperscalers have a $1.5 trillion backlog, supporting cloud revenue growth into 2030.
- Potential risks to AI thesis include loss of monetization path or compute efficiency breakthroughs.
Trade Ideas
AI tech momentum is accelerating and early
AI and technology are in early stages with accelerating momentum. Token usage has increased 14-fold in the last 12 months and is projected to grow 24 times in the next few years. Earnings surprises from the Mag Seven were 70-90%, lifting S&P 500 Q1 earnings growth from 15% to 27%. All roads lead back to tech, and investors should not ignore the AI theme.
US equities should remain overweight
The US should remain an overweight in portfolios given technological advances, productivity gains, and constructive tax policy. While international equities should be part of a diversified mix, the US core remains the primary overweight.
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This CNBC video, published May 07, 2026, features Anastasia Amoroso discussing XLK, SPY. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Anastasia Amoroso · Tickers: XLK, SPY