AI stocks haven’t played by the normal valuation rules. Now that rates are higher, they may have to, says UBS

October 27, 2026 · 11:15 am 1 sources

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• AI stocks haven’t played by the normal valuation rules. Now that rates are higher, they may have to, says UBS
  MarketWatch · October 27, 2026 11:15
  Historically, the surges in investment and in the profitability it produced have proven unsustainable for U.S. tech companies, says Michel Lerner.