DEEPWATER SEES AI BULL RUN EXTENDING INTO 2026 Deepwater Asset Management expects the Nasdaq to rise about 10% in 2026, driven by another strong year for AI. The firm sees the market in year three of a five-year AI bull cycle and says current “bubble” concerns help keep expectations contained. Deepwater forecasts small-cap tech will outperform, with hyperscaler capex growing 50% next year. It expects Apple to launch a new Siri by April 2026 and remain a strong performer, while Google is projected to lead the Magnificent 7 for the full year. Tesla is seen launching driverless robotaxi services in five cities but missing 2026 delivery targets.(*Walter Bloomberg)