JP Morgan Private Bank global investment strategist Madison Faller said investors should look beyond tech giants for AI exposure, targeting capital‑intensive, hard‑to‑replace assets such as semiconductors, infrastructure, utilities and industrials. She said strong tech earnings can coexist with broader market profit growth; in this earnings season 10 of the S&P 500’s 11 sectors are expected to see profit increases. The JP Morgan team expects the S&P 500 to deliver nearly 10% total return over th

JP Morgan Private Bank global investment strategist Madison Faller said investors should look beyond tech giants for AI exposure, targeting capital‑intensive, hard‑to‑replace assets such as semiconductors, infrastructure, utilities and industrials. She said strong tech earnings can coexist with broader market profit growth; in this earnings season 10 of the S&P 500’s 11 sectors are expected to see profit increases. The JP Morgan team expects the S&P 500 to deliver nearly 10% total return over the next year and forecasts European large‑caps to produce mid‑single‑digit returns. Faller highlighted European banks as a tactical focus given improving fundamentals and increased dividends and buybacks.