2026 international stock outlook | Fidelity
The AI boom ripples around the globe
The most powerful theme driving the US market in recent years has been the artificial intelligence (AI) boom, which has propelled the share prices of Magnificent 7 behemoths including NVIDIA, the dominant chip designer for AI, and hyperscalers like Microsoft, Google, and Amazon. (Learn more about how Fidelity’s US fund managers have been riding the AI revolution.)
The international market doesn’t yet have multitrillion-dollar tech stocks such as these, but it does have manufacturers that are dominant players in AI’s food chain and infrastructure—the pick-and-shovel companies—that often trade at much lower valuations than analogous US…
