Thoughts on US tech

Hi Josh,

Similar to our view that the ASX will advance in a “3-steps forward, 2 back” fashion this year where buying the dip approach is likely to pay dividends, we believe it’s too early to say sell US tech per se, but there will be plenty of mixed performances under the hood:

• Basis Wednesday nights close in the US, the local FANG ETF was trading ~1% below its all-time high while Nvidia (NVDA US) was a whopping 24% below its same milestone.

This looks set to be huge year for a stock/sector selection with US tech likely one of the most volatile spaces. Through the current reporting season MM will dive into the reports and outlook for many US tech names, it’s definitely time to keep our fingers on the pulse.

• At this stage we believe US tech’s major outperformance post COVID is behind us, and in a general sense, we have a bias towards reducing tech, though this will evolve inline with views on specific stocks.
• Our most recent change in the International Equities Portfolio highlights this, selling Apple (AAPL US) and buying HCA Healthcare (HCA), with both companies having reported this week.

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Global X Fang ETF (FANG)

LAST UPDATED 30/01/2025 18:16

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Global X Fang ETF (FANG)

LAST UPDATED 30/01/2025 18:16