Pharmaceutical stocks such as Moderna (-9%), Jaguar Health (-6%), and Pfizer (-5%) also experienced a downturn, as the Covid-19 pandemic and its after-effects receded into the past.
“The enthusiasm for AI giants underscores a collective investor belief in the transformative potential of artificial intelligence technologies. Investors are now favouring the promising advancements and higher growth potential within the AI sector over the established yet increasingly volatile traditional tech landscape,” explained George Naddaf, Regional Manager, GCC and MENA at eToro. “With the pandemic’s immediate impact fading and global travel resuming robustly, as evidenced by Dubai Airport’s resurgence as one of the busiest airports worldwide investor’s attention is also shifting away from pandemic-driven pharma gains towards sectors poised for substantial post-pandemic growth. This evolving investor sentiment underscores a broader trend of prioritising future-oriented, high-growth sectors over established, but currently less dynamic, industries.”
