News Formal

Tech stocks: FAANG shares could soar 50% this year, Tom Lee says

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Ireland News News

FAANG stocks could soar 50% this year thanks to long-term demand for tech goods and no new competition, Fundstrat's Tom Lee says

US mega-cap tech stocks have enjoyed a stellar rally so far in 2023, and there may be no stopping them.

Lee said he expected a rebound in FAANG stocks after a punishing 2022, when tech and other growth stocks were sold off as the Federal Reserve raised interest rates sharply. He added that the bullish case for tech stocks, including non-FAANG companies, is stronger than he had previously expected.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

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.

FAANG stocks could soar up to 50% this year, says Fundstrat's Tom LeeTom Lee said on CNBC's 'Closing Bell' that tech shares could build up even further from an already successful year.
Source: CNBC - 🏆 12. / 72 Read more »