UBS Group stated that large US technology stocks and internet-related stocks have been under pressure recently, but this sector continues to bring many bullish signals to investors, especially in terms of artificial intelligence.

Solita Marcelli, Chief Investment Officer of UBS Global Wealth Management Americas, said, "Despite recent volatility and mixed reactions to tech company earnings, we believe that artificial intelligence will be a key driver of stock market returns in the coming years, and the AI trend should further provide fundamental support for the stock market."

UBS Group wrote that although the stock prices of companies like Microsoft, Meta, and Apple have fallen after earnings releases, "the third-quarter performance of 2024 further strengthens our strongly positive view on the artificial intelligence theme."

The company recommends buying high-quality artificial intelligence stocks on dips, but adds that "the increasing gap between the structural trend of artificial intelligence and the slow recovery cycles of smart phones and personal computers implies that investors need to adjust their exposure to tech stocks."