Stocks to buy for 2026 as the AI trade comes under pressure
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Stocks to buy for 2026 as the AI trade comes under pressureListen(7 min)Listen(7 min)This has been a banner year for generative artificial intelligence, with billions of people making use of ChatGPT and competing chatbots, such as Google’s Gemini.But as hyperscalers — companies such as Alphabet Inc. GOOGL, Microsoft Corp. MSFT, Meta Platforms Inc. META and Oracle Corp. ORCL that are footing the bill for construction, expansion and upgrades of data centers — increase their borrowing, their stocks could rerate and begin to trade at lower price-to-earnings ratios. This possible pressure on the hyperscalers was behind a warning from Savita Subramanian, Bank of America’s head of U.S. equity and quantitative strategy, who said last week that AI-related stocks could hit an “air pocket” in 2026.About the AuthorPhilip van Doorn writes the Deep Dive investing column for MarketWatch. Follow him on Twitter @PhilipvanDoorn.Copyright © 2025 MarketWatch, Inc. All rights reserved.