It has just been revealed that there is a specific tech sector that could print gains amidst recession threats. Check out the latest reports about the matter below.
This tech sector could bloom
Despite signs of a potential recession, billionaire investor Stanley Druckenmiller remains optimistic about the promising technology industry.
Specifically, Druckenmiller expressed his enthusiasm towards the emerging field of artificial intelligence (AI), which he believes has the potential to be as revolutionary as the internet.
He predicts that if companies involved in the AI tech sector can demonstrate sustained growth in a recessionary market, they could continue to outperform the rest of the stock market.
“I do believe, unlike crypto, I think AI is real. It could be as transformative as the Internet. It’s a huge thing.
I think I’ve argued publicly that if [consumer] staples can go up in price in a recession, why can’t a company like Nvidia go up if their orders and earnings go up 70% in a hard landing, which is what I think would probably happen. It’s not clear that me that Nvidia goes down despite the lofty valuation level.”
He continued and said the following:
“History has proved if you have very good earnings in a recession and they’re sustainable – if they’re not the market somehow figures it out –those stocks will do just fine.”
According to Druckenmiller, AI has dominated the long positions of his investment firm for the last five or six months. And this is just the part that we, the public, know.
The latest news in the crypto space
In a recent interview with YouTuber Tom Bilyeu, the CEO of Real Vision suggested that Satoshi, the anonymous creator of Bitcoin, could potentially be the US and UK governments.
Pal believes that BTC’s pseudonymous founder may have been a collective of government employees from the US National Security Agency (NSA) and the UK’s Government Communications Headquarters (GCHQ), who were assigned to experiment with possible solutions to anticipate future threats to the West’s international monetary supremacy.
