After months of currency tensions, a calming dollar and stabilizing inflation have helped reshape the board. Inflation rate is 2.3% monthly, nominal annual rate is 35%; Peso yield becomes less attractive. Within that framework, Local market once again gains some ground in the dollarand My favorite vehicle is Sidiaallows you to invest in international stocks in a quick and easy way.
The rate difference between the peso and the MEP dollar can no longer compensate for exchange rate risk. therefore, Re-search your personal funds and portfolio International exposure that naturally covers exchange rate spikes.
When viewed from the city of Buenos Aires, the tables match. “It’s not about going shopping in large numbers; Build up in peace.”. of Average entry strategies typical of periods of stability are starting to dominate broker discussions.
Mass consumption, finance and META: The CEDEAR portfolio combines protection and opportunity
inside you November Portfolio ReportPPI (Personal Investment Portfolio) defines its vision as “cautious but constructive”. Consulting company proposes structure diverse and balanced It has a strong global bias.
Portfolio you propose 40% of basic consumption (ETF XLP), 20% in Financials (XLF), 20% in S&P 500 (SPY), 15% in Brazil (EWZ), and 5% in Meta (META).
“Local conditions of calmer exchange rates and lower expectations for currency devaluation have created scope for repositioning portfolios with a focus on overseas assets, particularly for companies with strong balance sheets and exposure to technological innovation,” the report said.
This approach combines two pillars:
- resilience (via defense department)
- Exposure to structural growth (via Technology)
Fundamental consumption commitment is explained by the ability to maintain margins even in slowdown cycles. he The S&P 500 and Technology CEDEAR provide cover against international inflation and dollar weakness.
According to PPI: Big tech reputation level After September and October adjustments, especially Steady revenue and expanding profit margins.
Inviu: Big Tech capital investment and the role of artificial intelligence
Inviu’s analysis of the international market revolves around the following central axes: of Artificial intelligence as a driver of investment and corporate growth.
inside you Global Weekly Report #48The research team, titled “Debt Vulnerability vs. AI Investment Engines,” warns as follows: Capital spending among major technology companies increased by 58% year-on-year reach between 360,000 USD in 2025, 364 billion USD.
This phenomenon is reflected on a company-by-company basis.
- Alphabet’s quarterly revenue exceeds $100 billion for the first timean increase of 16% from the previous year, and capital investment USD 22.4 billion (+71% YoY). Cloud business grows 35% and apps gemini The number of users has already exceeded 650 million.
- microsoft Reported 13% revenue increaseAzure grew 40%; microsoft cloud 20% ahead. The group is Annual capital investment USD 91.3 billion (+42%)Powered by a partnership with. OpenAIthere is Holds 27% stake Valued at US$135 billion.
- goal, Despite the negative accounting impact of taxes of USD 15.9 billion, 26% increase in revenue and Quarterly capital expenditures recorded USD 19.37 billion.
- AmazonOn the other hand, any doubts about AWS were dispelled by showing that: Re-acceleration from 17.5% to 20% compared to the previous year, The annual guidelines have been raised as follows. 125 billion USD.
Inviu’s conclusions are: AI shows no signs of slowing down.. Spending on infrastructure, chips, and data centers has become an arms race, and the market continues to reap the rewards. “Businesses’ biggest fear is no longer overspending, but falling behind,” the document said.
Despite tough valuations, financial ratios remain healthy and Big Tech maintains high standards. ROIC 25% to 30%more than twice the market median. “Companies can invest aggressively without compromising profitability,” Inviu said.
However, they warn that Markets begin to punish uncertainty in resource allocation. Amazon gets 10% increase after revealing details of capital spendingMeta, on the other hand, fell 11% as it did not justify the return on certain deadlines or expenditures.
That’s how you read it Transparency of investment strategy is critical to maintaining a high reputation.
Goldman Sachs: ‘At least we’re not in a bubble yet’
As comparisons to the 2000 boom mount on Wall Street, goldman sachs Provides a more nuanced vision. at his end top of mindTitled “AI: In a Bubble?”, the investment bank claims: “The technology sector is not in a bubble (at least not yet).”
strategists Eric Sheridan, Peter Oppenheimer, Ryan Hammond They point to some similarities with the dot-com boom, including high valuations, concentration, and strong capital spending, but also highlight fundamental differences.
- Big Tech generates positive cash flow, pays dividends, and buys back stock.
- Although the valuation multiple is high, well below the peak in 2000 (P/E ratio is 31x, compared to 50x for dotcom).
- The current capital investment amount is Mostly self-financedSince it is not debt, systemic risk is reduced.
“The rise of AI may remind us of past episodes.”but this time the company is showing real profits and solid fundamentals. ” Oppenheimer explains.
The report also highlights the macroeconomic potential of AI. According to economists joseph briggsinternational investment can generate Economic value of USD 20 trillionof which 8 trillion dollars It will flow to American companies.
Cumulative investment in infrastructure is USD 4 trillion by 2030Goldman estimates that the returns will cover the costs.
bank does not exclude temporary fixeshowever, argues. Excessive pessimism would be a mistake. Your recommendation is diverse exhibitsWe will give preferential treatment to companies that combine the following. Cash flow, technological leadership, and low debt.
Carry trade is no longer business for Citi
Many in Buenos Aires believe that the stable exchange rate will act as an opportunity. Rebuild your portfolio with an international vision. Although a suppressed CCL dollar allows access to CEDEAR at a more competitive price, domestic interest rates do not provide a real alternative to inflation.
A local LAC operator summarizes: ”Local carry trade has lost its appeal. “The peso is in short supply against the dollar and interest rates below expected inflation are causing people to seek protection in international assets.”
The main approaches are: “Please purchase with confidence”. Institutional investors take advantage of moments of low volatility to build positions in CEDEAR. Technology and consumer staples companiesa sector that provides protection from exposure to regional uncertainty and international expansion.
Among the market’s favorites are: microsoft, Amazon, Nvidia, procter and gamble, JP Morgan and spy ETFreproduces the S&P 500.
underlying argument
The question of whether the rise of AI is creating a bubble is inevitable. But not so much goldman sachs as Imbiu Agree with the current investment cycle is based on a concrete foundation. Companies not only increase revenue and profits; Building critical infrastructure for decades to come.
Unlike 2000, when internet companies relied on unfounded expectations, today’s AI ecosystem is already direct monetization Through cloud services, chips, business software, and intelligent advertising.
“If there’s any concern, it’s not the lack of benefits, it’s the speed of spending.” Synthesize Inviu. The challenge for Big Tech is to demonstrate that every dollar of capital investment translates into productivity and sustainable growth.
Recommended strategy
Consulting companies have one thing in common: Diversification. PPI suggests combinations Defense assets leveraging technologyInviu recommends identifying. Undervalued niche markets in the AI value chainclaims Goldman Sachs. Broaden your geographic and sectoral horizons To reduce concentration risk.
For Argentine investors, this looks like this: Accumulate CEDEAR step by steptake advantage of and prioritize periods of low exchange rate volatility. International companies with high profit margins and low leverage.
Recommended areas such as technology, AI, consumption, etc.
Sectors where the city recommends investing in Cedear
he ironed dollar And easing inflation has opened a window that local investors can’t afford to miss. While regional financial policy follows a low interest rate path, international stock offers A combination of scope, diversification and growth potential.
Consultants also agree that Rather than chasing immediate profits, However, the accumulate strategically. Dollar lull may be temporary, but big tech and defense sectors offer opportunities Looks like they still have a long way to go.
The city’s vision is that now is the time. Repositioning ourselves in line with international standardscombines the prudence of a stable sector with the long-term vision imposed by the artificial intelligence revolution.
About The Author
