Megacap tech may be the ultimate ‘quality’ play in an uncertain economy, The ETF Store president suggests
Publishing timestamp: 2024-05-09 12:48:48
Summary
Despite higher interest rates, investors are still favoring megacap tech stocks for their earnings growth and cash on hand. While some tech stocks have been pressured, quality tech names are expected to remain in a leadership role even in the event of a U.S. economic slowdown. However, growth-oriented tech stocks may stay on the back burner for a while as investors rethink making bets on companies with earnings far into the future.
Sentiment: NEUTRAL
Tickers: TSLA, ARKK, COIN, ROKU,
Keywords: ark innovation etf, personal investing, breaking news: investing, technology, coinbase global inc, roku inc, investment strategy, markets, breaking news: technology, tesla inc, stock markets, business news, earnings, exchange-traded funds,
Source: https://www.cnbc.com/2024/05/08/why-tech-is-outperforming-markets-despite-higher-interest-rates.html