Why the Bulls Aren't Giving Up Yet

Market Analysis

"Market gains are the compensation for the pain endured," once said André Kostolany. The market shocks of April, initiated by Donald Trump's tariff announcements, seem a distant memory now. Both the DAX and the Dow Jones have rebounded, each gaining over 30%, while the S&P 500 has set a remarkable 37 record highs in 2025 alone. A significant driver behind this surge is the boom in artificial intelligence. Since the launch of ChatGPT at the end of 2022, global market capitalization has surged by $42 trillion, according to Bloomberg. Following three robust years in the stock market, questions arise about the sustainability of this bullish trend. Most fund managers remain optimistic, with more than 75% willing to take on additional risk. Furthermore, 85% believe that the valuations of major AI companies are justified. Profit expectations are also promising, with further growth anticipated for 2026 and 2027, aided by a potential shift in interest rates in the United States.

Investment Opportunities

Against this backdrop, DER AKTIONÄR looks ahead, presenting its editorial teams top picks for 2026. Each editor shares their favorite for the upcoming year, with results to be reviewed after 12 months. Readers can discover these insights in the latest issue. Additional features in the magazine include a deep dive into quantum computing, an emerging technology with promising potential before it fully matures. The issue also highlights a Brazilian fintech company poised for its next expansion phase in 2026, continuing its pure growth narrative. Moreover, the publication covers a consumer goods company with a diverse product portfolio, including cola, snacks, and cereals, appealing to a wide range of investors with its attractive stock outlook for the coming year. Another highlight is a logistics giant offering a rare counter-cyclical investment opportunity, featuring both significant growth potential and a generous 6.6% dividend yield. Lastly, a standout DAX-listed aerospace company is identified as a frontrunner for 2026, benefiting from increasing airline orders and defense spending by NATO countries, along with advancing space exploration initiatives. For detailed insights and more, readers are encouraged to explore the new edition of DER AKTIONÄR.