Goldman Sachs The Markets
Is the big tech trade over?
Jul 26, 2024
Exploring the recent decline in US tech giants affecting the equity market and the subsequent opportunities in stocks. Analysis on market rotation, political uncertainty impact, reversal of small cap stocks, and upcoming investment strategies amidst FOMC meetings and elections.
09:07
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Quick takeaways
- Mega cap tech stocks facing valuation concerns due to friendly inflation data triggering recent sell-offs.
- Market dynamics see small cap stocks resilient and outperforming during tech sell-offs, benefiting from lower interest rates.
Deep dives
Market Sell-Off Due to Inflation Data and AI Investment Concerns
Recent market sell-offs were triggered by friendly inflation data prompting concerns about overvaluation of large companies with strong balance sheets like mega cap tech stocks. Additionally, doubts arose regarding significant returns from AI investment spending on higher revenues or productivity justify current valuations of tech companies.
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