AI Bubble Is More Unhinged Than Dot-Com—A Chilling Warning From The Inside
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Apollo's chief economist, Torsten Slok, warns that the current AI market frenzy is more dangerously inflated than the 1990s dot-com bubble. The top 10 companies in the S&P 500, dominated by AI firms like Nvidia and Microsoft, have a P/E ratio of 25, indicating significant valuation risk concentrated in a few stocks. While the overall S&P 500 P/E is 20, the imbalance suggests that if sentiment shifts, the market could face a violent correction. Investors are advised to consider ETFs for exposure or defensive hedges to navigate potential fallout.
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