US equities – Goldman Sachs says the tech sector is not going up for the right reasons
<p>Snippet comments from Goldman Sachs on technology stocks in the US … but there is still reason to go higher (see TINA comments below):</p><ul><li>tech stocks are coming off a good week</li><li>not going up on ‘good’ news</li><li>not going up for the right reasons</li><li>
“The bad news for the sector right now = stocks not going up on ‘good’ news .. which raises obvious questions around positioning & valuation” </li><li>"This has been a key frustration all month long – the latest being NVDA (.. which follows META, UBER, SPOT, AMZN & DASH all down in August despite beat/raise prints), which created a bit of a “if Nvidia can’t work, what else can” type of feeling out there.”
</li><li>“The good news for the sector right now = there also appears to be growing angst in pockets of the market outside of Big Tech (think China exposure or Specialty Retail or Payments), which could create a bit of a ‘TINA’ dynamic for Big Tech (again)”</li></ul><p>–</p><p>TINA is There Is No Alternative</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
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