'Reacceleration ahead': Bank of America names global tech stocks to buy — predicting growth in the second half

Bank of America analysts painted an optimistic picture for a handful of European technology stocks, forecasting an acceleration in growth during the latter half of this year. Despite a challenging earnings season and mixed results in the second quarter — which contributed to the 10% fall in European technology stocks since mid-July — the bank sees potential for acceleration in critical areas of the industry. .

The bank's analysts said companies disclosed numerous challenges facing the sector in their second-quarter earnings, including softening demand and longer sales cycles in some areas, ongoing efforts to monetize artificial intelligence technologies, and a widespread focus on cost efficiencies and margin expansion. Despite these challenges, Bank of America sees reason for optimism and named several stocks it believes are well-positioned to benefit from this anticipated reacceleration.

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