Does the AI revolution justify today’s high ASX 200 valuation?

The S&P/ASX 200 Index (ASX: XJO) is down 1.37% on Friday at 8,435.6 points, which is 7.5% off the record high set last month.

Despite the drop, Blackwattle Investment Partners says the ASX 200 is still expensive.

The ASX 200 is trading on a 21x forward price-to-earnings (P/E) ratio compared…