Top Invesco Analyst: The AI Trade That “Lifted All Boats” Is Over. Now Profitability Decides Winners As “Capacity Will Catch Up”

Invesco’s Fiona Lim says the AI-driven semiconductor rally is moving from broad, momentum-led strength to a tougher stock-picking phase. She expects profitability to increasingly differentiate winners from laggards, implying higher dispersion risk within the sector even if the theme remains intact.

Analysis

Invesco’s Fiona Lim says the AI-driven semiconductor rally is moving from broad, momentum-led strength to a tougher stock-picking phase. She expects profitability to increasingly differentiate winners from laggards, implying higher dispersion risk within the sector even if the theme remains intact.