Look at companies that use AI effectively — not AI hardware manufacturers — Oakmark Fund manager says.
Referenced Symbols
-
OAKMX
+1.30%
-
SPX
+1.59%
-
GOOGL
+1.06%
-
AMZN
+1.70%
-
META
+1.51%
-
COF
+1.81%
-
CHTR
+1.26%
-
NVDA
+3.97%
Legendary value-stock investor Bill Nygren, co-manager of the Oakmark Fund
OAKMX
+1.30%
, says that the S&P 500
SPX
+1.59%
“looks more like a growth fund today than it ever has” — but he adds that the benchmark U.S. stock index isn’t overpriced.
Like a lot of investment strategists, Nygren — who also serves as chief investment officer for money manager Harris Oakmark — said the U.S. market will broaden out this year, with the “Magnificent Seven” stocks offering less opportunity. These tech favorites could change the way stock-fund managers do their jobs, by shrinking the universe of attractively priced large-cap companies.
