The collapse of Silicon Valley Bank has added to volatility in the tech sector, coming hot on the heels of expectations that interest rates are likely to remain high for some time. The tech-heavy Nasdaq Composite closed 0.45% higher on Monday. That's after sliding 1.76% on Friday following the closure of Silicon Valley Bank . Crypto-focused Signature Bank was also shut down.
Meanwhile, Barbara Doran, CIO at BD8 Capital Partners, believes tech has "really been on a roll" and is "holding up," despite concerns around higher interest rates. She said she's refocusing on big-cap tech names given the promise of artificial intelligence — the hottest tech theme this year — and "historically attractive" valuations. She is bullish on Meta , giving the stock upside of between 15% to 35%.
this ain’t the bottom ! and i suck at stocks.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock picks to buy: Banks with the best earnings growth, Goldman SachsGOLDMAN SACHS: Here are the 12 best growth stocks among financials as the turmoil surrounding Silicon Valley Bank and Silvergate rocks the sector
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: WSJ - 🏆 98. / 63 Read more »