AI Earnings Surge Signals More Market Gains Ahead, Echoing the Dot-Com Start

An AI-driven earnings boom is underpinning a still-bullish stock market, with the S&P 500 projected to post about 50% earnings growth this quarter—the strongest pace in years and not a rebound from a crisis. Analysts draw a parallel to 1994, when AI-driven infrastructure growth and data-center expansion preceded the dot-com surge, suggesting profits and valuations could keep rising for years, supported by a forward P/E around 20.