Want to hop off the AI trade? Goldman says buy these stocks that have nothing to do with it

It may feel like the artificial intelligence trade is sucking all the oxygen out of the stock market these days, but Goldman Sachs says that there are still noteworthy companies to buy that don't have anything to do with AI. The strength of the AI trade has pushed the S & P 500 and technology-dominant Nasdaq Composite indexes to multiple intraday and closing record highs this year, with the latest records achieved just last week. That left Goldman Sachs analysts in a May 15 report highlighting the challenge of finding investment opportunities that are separated from tech and AI. "With AI and Momentum moving hand in hand and driving the direction of the S & P 500, many investors have expressed the view that the equity market today is 'one big trade' rather than 'a market of stocks,'" wrote, Goldman's chief U.S. equity strategist. "We believe investors should continue to focus on equities with fundamental support from earnings growth and revisions, whether those earnings are driven by AI or other tailwinds." Low sensitivity Snider highlighted a portfolio of Russell 1000 stocks with low price sensitivity to both the AI trade and the market's pricing of economic growth. The chosen stocks in the table below have also recently seen positive earnings revisions by analysts. Eli Lilly has slipped around 1% this year, and Goldman believes that only about 9% of the drugmaker's recent returns have been driven by the U.S. economic outlook and AI. …