UBS maintains an Attractive stance on global equities, bolstered by robust, broadening earnings and resilient economic growth. The report emphasizes high-conviction transformational themes including AI, power/resources, and longevity.
Key Takeaways
- 1.We maintain an Attractive view on global equities, driven by resilient macro conditions and robust, broadening earnings momentum.
- 2.Leadership in the market is broadening beyond tech, though AI remains a primary driver for semiconductors and infrastructure.
- 3.Regional preferences include the US, Japan, emerging markets, and Switzerland, while European IT was downgraded to Neutral.
Table of Contents
- Executive summary
- Our preferences
- Our top picks
- Global outlook
- Regional perspectives
- Transformational Innovation Opportunities (TRIOs)
- Tactical opportunities and Longer-term investments in focus
- Risk table
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Authors
Moritz Vontobel
Securities
NVDATSMAZN
Themes
Artificial IntelligencePower and ResourcesLongevity
Regions
GlobalEuropeAsia PacificUnited StatesSwitzerlandChina