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Goldman Sachs The Markets
Can tech continue to dominate the markets?
Jan 26, 2024
The podcast discusses the dominance of tech stocks in driving indices to record highs in 2023. It explores potential factors impacting tech dominance and the global perspective of tech companies. The podcast also delves into the blurring lines between tech and traditional companies. Lastly, it analyzes the importance of cloud growth for major tech companies in earnings week.
09:40
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Quick takeaways
- Investors should consider small and mid-cap tech stocks in addition to the dominant 'Magnificent Seven' for best returns in the tech markets.
- The return on investment of AI infrastructure and the path rate of interest rates are significant factors that could impact tech dominance and should be closely monitored.
Deep dives
Tech dominance driving market highs
The dominance of tech stocks, particularly the magnificent seven major tech companies, has contributed to record highs in the market. Despite a challenging economic environment in 2023, these tech stocks saw significant gains, with an average increase of 105%. However, in 2024, there is an expectation of a broadening of strength in the tech markets, as overall tech growth is projected to accelerate to north of 6%. This shift in leadership presents an opportunity for investors to explore stocks beyond the magnificent seven for the best returns.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode