“Our bullish view is that investors are still not fully appreciating the tidal wave of growth on the horizon from the $2 trillion of spending over the next 3 years coming from enterprise and government spending around AI technology and use cases — a once in a generation 4th Industrial Revolution — and we believe tech stocks will have a very strong second half of the year.”

The three-year spending window runs to mid-2028; the shorter-term call was borne out, as tech stocks rallied strongly in the second half of 2025.