Ben Snider of Goldman Sachs recommends investors look toward physical consumer experiences to find value outside of the artificial intelligence market.
Ben Snider, a strategist at Goldman Sachs, suggests that investors should look beyond the artificial intelligence (AI) boom to find stable returns in physical consumer experiences. As the AI revolution accelerates, Snider notes that in-person events—such as vacations, movies, and sports—remain insulated from AI disruption because they require physical attendance. The Goldman Sachs team identified 36 stocks across the movie, hotel, casino, and leisure industries, all with market caps exceeding $2 billion. These stocks have generated a 17% year-to-date return, outperforming the equal-weighted S&P 500. Snider highlighted that many of these companies, including Walt Disney Company and Royal Caribbean, currently trade at attractive valuations. While the AI trade is moving into a more tactical phase, Snider argues that the combination of strong demand and reasonable pricing makes physical experiences an appealing investment theme. He advises investors to conduct thorough research on these 36 companies now, before the broader market shifts focus toward non-AI winners.