Bloomberg Surveillance · Tuesday, July 21, 2026
Julian Emmanuel of Evercore ISI believes the current market environment, driven by AI investment themes and strong corporate earnings, will prevent a Y2K-style market crash. He noted that unlike the Y2K era, value stocks are currently outperforming growth and the economy remains solid.
“So the question is is that in this environment where we know that AI is dominating as an investment theme, where we know we're on course for political change in the fall, where we know that earnings have been unprecedentedly strong.”
“How does the endgame develop? And a lot of the questions that we've been fielding is does this have to end like it ended in Y two K And our answer is decidedly it doesn't because earnings are good and oh, by the way, you look at this year, value is out performing growth, the stock market is very strong, and the economy is solid.”