HSBC: DON'T FIGHT THE AI TRADE AS STOCK RALLY GAINS MOMENTUM

HSBC EXPECTS STRONG Q3 EARNINGS AND ACCELERATING AI DEMAND TO EXTEND THE EQUITY BULL MARKET.

S&P 500 FORWARD VALUATIONS HAVE FALLEN 16.5% SINCE LATE 2025, WHILE EARNINGS GUIDANCE IS IMPROVING AT ITS FASTEST PACE SINCE 2021.

THE BANK FAVORS AI HYPERSCALERS, CITING SURGING COMPUTING DEMAND AND RESILIENT GPU PRICES.

HSBC SEES EARNINGS AS THE NEXT CATALYST FOR STOCKS TO MOVE HIGHER. ...