As investors turn "on again, off again" with the AI trade, Ted Thatcher sees plenty of promise in the broader S&P 500 (SPX). He makes the case that more stocks beyond tech will join in the S&P 500 Equal Weight rally and explains how his bull case will come to fruition. Ted still likes the AI trade and believes Nvidia (NVDA) is becoming more of a value stock in the midst of the tech skepticism. Microsoft (MSFT) and its financial discipline has Ted bullish on the Mag 7 company's outlook, along with Alphabet (GOOGL) due to its full stack AI advantage.