History Has Changed My Mind on These Millionaire-Maker AI Stocks (At Least for Now). Why I Have Suspended My Earlier Call.
Investors should keep CoreWeave and Iren on a watch list rather than in a portfolio right now.
Overview
Earlier this month, I suspended a call I had made just a few weeks ago. I suggested that CoreWeave (NASDAQ: CRWV) and Iren (NASDAQ: IREN) hold the potential for outsized gains driven by artificial intelligence (AI).
Have I changed my mind about that call? Not necessarily, but the Shiller price-to-earnings (P/E) ratio is at 42, a level near all-time highs and an indication that the tech rally may soon run out of steam. Moreover, these stocks carry with them one key risk that could compromise their investment theses. Until they can get past that challenge, it might be better to keep them on a watch list for now, and here's why.
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Originally published at www.fool.com.