John Rogers, founder of Ariel Investments, believes investors are overlooking quality companies poised to surge when the artificial intelligence enthusiasm fades. He compares this situation to the internet bubble burst in 2000, when less glamorous stocks outperformed for several years. Rogers points out that many world-class consumer brands are trading at less than 10 times next year’s earnings, a level he has never seen in 20 to 30 years. His top picks include OneSpaWorld, Madison Square Garden Entertainment, Sphere Entertainment and J.M. Smucker, companies he considers protected from AI disruption. The S&P 500 closed above 7,800 for the first time, driven by technology stocks.
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