Goldman Sachs' trading department believes that it is a good time to buy AI-related stocks on dips, as the low interest rates will benefit IT projects, the uncertainty of the economic policies after the US election will decrease, and AI products will demonstrate actual progress at the upcoming conference.

Goldman Sachs' Broad AI basket, including Nvidia(NVDA.US), Microsoft(MSFT.US), Apple(AAPL.US), Alphabet(GOOGL.US), Amazon(AMZN.US), Meta(META.US), and Oracle(OTCL.US), has dropped about 11% from the high reached in July of this year.

The latest quarterly results show that the return on AI investment has not met expectations, causing concerns for some investors. However, Goldman Sachs believes that the market's pessimism towards AI is excessive. Compared to this year's profit trend, the Broad AI prices are low and may need new bad news to further decline, which is believed to be unlikely.