The US tech stocks surged higher on Thursday and Friday, ultimately gaining ~9.4% in just 48 hours which would have worried the underweight/cashed-up fund managers – I’m sure some traders covered positions last week but major underweight portfolios take weeks to re-weight i.e. we can see plenty of buyers surfacing into any weakness over the coming weeks.
- The US Tech Sector is still 20% below our target into 2023 although we expect some catch-up over the coming weeks.
MM is bullish on the US Tech Sector
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