I agree with our friends at Morgan Stanley.
Expecting AI-related earnings growth of 35% to 40% in 2027 driven by agentic AI as a structural investment theme. Not expecting AI infrastructure build-out to slow down anytime soon.
This will continue to support memory and hard drive providers such as Micron and Sandisk but investors need to have more realistic expectations.
We are finally entering a period of valuation growth driven by earnings not hype.
Not investment advice.