Is the party over? 'Big Short' Steve Eisman says tech bubble stocks are a must-have for investors

Steve Eisman, senior investment combination manager at LoboMaid, expects the "multi-year" rally in large-cap U.S. tech stocks to "continue" as artificial intelligence becomes more widespread on consumers' electronic devices. He said on Thursday that people will want new AI applications on their phones and computers, which will create "the largest upgrade cycle in history" when they buy new products. "You've got to own large-cap, large-cap tech stocks," Eisman said, adding that the demand would continue to benefit Apple, Nvidia, Microsoft and Oracle. He also said that Nvidia's high valuation may be expensive, but there was nothing to worry about because the company's profits had doubled. Eisman's comments drew attention on Wall Street, given his fame as a "macro bear" who made billions betting against subprime mortgages before the global financial crisis. He recently revealed that he owned "a lot" of Nvidia shares and that he considered them a long-term investment that would be meaningful for years to come.