Bloomberg Surveillance · Friday, July 10, 2026
Despite market volatility, spending on AI from seven major companies is expected to continue, driving earnings growth in the semiconductor sector. However, there's uncertainty around the timing of future projects, with significant ramp-ups predicted for late 2027 and early 2028, a factor already reflected in share prices.
“I think your previous guest, Let'sann, had it right. It's a very confusing time. It's a really difficult trading environment right now. If you look at some of the spending plans that are out there, and these are comitted contracts that people are data centers that people are going to build, there's a huge, huge ramp starting next year late twenty seven, early twenty eight, numbers get really really big. The problem is a lot of that is already reflected in the share price, and timing is always a little uncertain, and I think we have a situation where sentiment got a little ahead of fundamentals and that was sort of the correction we saw this month or last month.”
“I have buys on a m D and Intel. I think both of them have pretty strong prospects next year. Intel is fundamentally rerating. It's a company we'd left for dead two years ago and has a new CEO and a new lease on life. And as you know, if you look at Nvidia, it was the it's the lowest performing, the worst performing stock in the Socks Index this year today.”