Big Tech stock rally is over but equity market will still rise: expert

The rally in Big Tech stocks has"run its course," but the broader US equity market will still extend gains toward record highs this year, according to the chairman of Sanders Morris Harris, a US investment firm that manages $4.9 billion for clients.

The veteran investor thinks the largest blue-chip tech companies have gotten so big that they can't grow much more, and that it would be"almost impossible" for their revenues to swell at the pace they have done for the past 10 years. "Hence upside potential after the partial recovery is medium grade at best. Smaller but established tech companies are where the almost unbounded growth opportunities exist," he told the publication.

"There is an increasing sense that corporate America can cope with higher interest rates more successfully than expected, and that is attracting more buyers of stocks," Ball told Fortune.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. stock futures dip as investors eye big-tech earningsInvestors were cautious ahead of a batch of company earnings, while also wary of looming economic data that may color the Federal Reserve's thinking.
Source: MarketWatch - 🏆 3. / 97 Read more »

Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earningsA small group of technology giants have propped up the U.S. stock market this year, creating high anticipation for their upcoming earnings reports.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock market news: Bank worries continues, big tech earnings on deckUS stocks drop as First Republic revives bank worries and investors await big tech earnings
Source: BusinessInsider - 🏆 729. / 51 Read more »

Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earningsA small group of technology giants have fueled U.S. stock-market gains this year, creating high anticipation for their soon-to-be-released earnings reports. “There is a lot riding on Big Tech earnings this week, and the names reporting have a near term track record of delivering disappointing resul
Source: MarketWatch - 🏆 3. / 97 Read more »

Here's what this investor is looking for as Big Tech earnings approachThis week will see some of the larger tech firms on Wall Street report quarterly results, including Microsoft, Google-parent Alphabet, Amazon and Meta.
Source: CNBC - 🏆 12. / 72 Read more »