'Buy China, Sell AI' Is The Ultimate Contrarian Trade By This Top Wall Street Analyst: Find Out Why
Portfolio Pulse from Piero Cingari
Bank of America's chief investment strategist, Michael Hartnett, suggests a contrarian trade involving long positions in Chinese equities and short positions in AI stocks. He notes the extraordinary inflows into tech-related funds and believes tech equities have heavily discounted a Fed pause in June, leaving potential China stimulus as a bullish June surprise.
June 02, 2023 | 8:09 pm
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NEGATIVE IMPACT
Apple Inc (NASDAQ:AAPL) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Apple Inc. As one of the seven tech titans in the S&P 500 index, Apple may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Amazon.com, Inc. (NASDAQ:AMZN) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Amazon.com, Inc. As one of the seven tech titans in the S&P 500 index, Amazon may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Alphabet Inc (NASDAQ:GOOG) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Alphabet Inc. As one of the seven tech titans in the S&P 500 index, Alphabet may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Alphabet Inc (NASDAQ:GOOGL) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Alphabet Inc. As one of the seven tech titans in the S&P 500 index, Alphabet may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Meta Platforms Inc. (NASDAQ:META) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Meta Platforms Inc. As one of the seven tech titans in the S&P 500 index, Meta may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Microsoft Corp (NASDAQ:MSFT) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Microsoft Corp. As one of the seven tech titans in the S&P 500 index, Microsoft may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA Corporation (NASDAQ:NVDA) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include NVIDIA Corporation. As one of the seven tech titans in the S&P 500 index, NVIDIA may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Michael Hartnett's contrarian trade suggestion may impact Invesco QQQ Trust Series 1 (NASDAQ:QQQ), which tracks the tech-heavy Nasdaq 100 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which are part of the tech-heavy Nasdaq 100 index. As QQQ tracks this index, it may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla Inc. (NASDAQ:TSLA) may be affected by Michael Hartnett's contrarian trade suggestion, as it is one of the seven tech titans in the S&P 500 index.
Hartnett's contrarian trade suggestion involves short positions in AI stocks, which include Tesla Inc. As one of the seven tech titans in the S&P 500 index, Tesla may be negatively impacted by this trade suggestion in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80