Goldman Sachs: Continue to be bullish on AI-related stocks, but recommend using short-term hedging strategies to guard against pullback risks.

Goldman Sachs reports that on May 18, Louis Miller, head of Goldman Sachs’ global stock customized basket business, pointed out in a recent research report that although the fundamentals of AI-related stocks remain solid, as the market enters a phase of relative catalyst scarcity and positions become increasingly crowded, investors need to maintain long exposure while deploying short-term downside hedging to protect gains accumulated since the beginning of the year. Goldman Sachs noted that the current market is showing clear structural differentiation: AI-related stocks still have strong fundamentals and should continue to be held long, while short-term hedging strategies should be used to guard against pullback risks; as for some low-quality stocks, valuations have significantly diverged from fundamentals, and it may be prudent to consider short positions at higher levels. Goldman Sachs maintains a bullish stance on the AI theme, emphasizing that the rally in the AI sector is supported by solid earnings revision data.