Morgan Stanley's Shalett: AI capex is in a mid-cycle boom

Lisa Shalett, CIO at Morgan Stanley Wealth Management, expects the narrative for growth in tech earnings to keep holding. She sees AI capex spending in a mid-cycle boom, with bottlenecks shifting into areas that could raise real questions for investors.

• Shalett expects the tech earnings growth narrative to stick and hold
• AI capex is in a mid-cycle boom, she says
• Bottlenecks are shifting into areas that could raise questions for investors