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

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Despite a challenging earnings season and mixed results in the second quarter, the bank sees potential for acceleration in critical areas of the industry.

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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