May 22, 2024

Tyna Woods

Technology does the job

Qorvo, Micron Among B of A’s Dollars-Circulation-Potent, Damage Tech Stocks

Technology shares have tumbled in current months amid soaring curiosity charges and raging inflation. The S&P 500 Details Technology index has slumped 19% this year.

So, “when is time to buy tech stocks?” Lender of The united states analysts ask rhetorically in a commentary.

“When clientele prevent inquiring this query,” the analysts cheekily answered. “Tech is going through the quadruple whammy of soaring price reduction charges [which relate to cash flow analysis], peak globalization, tricky comparisons and crowding.”

In any case, Bank of The united states shoppers are fascinated in beaten-down development stocks, somewhat than cheap shares, the analysts stated. And “some beaten-down tech shares existing buying possibilities at these concentrations,” they said.