![]() ![]() "So from our perspective, the key to unlocking that trade is you need growth to broaden out, which effectively means recession risks come down."Ĭiti strategists expect the US economy to have slipped into a recession by the end of the year. "Essentially, there's a scarcity of growth and people are willing to pay a premium to be in them," he added. "You've got very high cash yields, you've got recession risks kind of in the background, and that's the main driver of people wanting to be in large-cap tech and growth stocks," Kaiser, who is Citi's head of US equity trading strategy, told CNBC. ![]() Stuart Kaiser said Monday that he believes that the US economy is barreling towards an economic slump – but that environment "should be relatively favorable to tech", with limited returns available elsewhere on the stock market. Investors should pile into high-growth and mega-cap tech stocks over the second half of this year because of the looming threat of a recession, according to a top Citigroup strategist. The sector has already outperformed in 2023, thanks to the rise of AI and the Federal Reserve easing up on its tightening campaign. It's time to pile into mega-cap tech stocks, according to a Citi strategist.Ī fourth-quarter recession should be "should be relatively favorable to tech," Stuart Kaiser told CNBC. Investors should snap up high-growth and mega-cap tech stocks before the US falls into a recession, according to Citi's Stuart Kaiser. ![]()
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