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Thursday, June 1, 2023

Qorvo, Micron Among B of A's Cash-Flow-Strong, Hurt Tech Stocks

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Technology shares have tumbled in current months amid hovering rates of interest and raging inflation. The S&P 500 Information Technology index has slumped 19% this 12 months.

So, “when is time to buy tech stocks?” Bank of America analysts ask rhetorically in a commentary.

“When clients stop asking this question,” the analysts cheekily answered. “Tech is facing the quadruple whammy of rising discount rates [which relate to cash flow analysis], peak globalization, tough comparisons and crowding.”

In any case, Bank of America shoppers are involved in beaten-down development shares, slightly than low-cost shares, the analysts stated. And “some beaten-down tech stocks present buying opportunities at these levels,” they stated.

Source: www.thestreet.com

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