Citigroup says buy the dip in tech stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Citi is eyeing a pullback in tech stocks as a potential buying opportunity.

Citi isn't shying away from tech stocks. "Last quarter, we took profits on our US and Global Tech Overweights, but suggested buying dips," Citi strategists wrote in a Friday note. "We have now seen a meaningful pullback and thus upgrade global Tech once again." Tech stocks have been under pressure recently as Treasury yields rise to multiyear highs, making growth-oriented tech names less attractive. The Nasdaq Composite alone shed 5.

IXIC YTD mountain Nasdaq Composite year-to-date performance With a preference for Europe and emerging markets, Citi reiterated its overweight rating on the regions. It has a neutral stance on the U.S. and Japan and is underweight on Australia and the United Kingdom. "We continue to prefer Europe and EM over the US, as increased chances of a US soft landing and stabilizing Chinese growth should support Cyclical markets," the note said.

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:

 /  🏆 12. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Citigroup raises Japan stocks to 'neutral,' cuts UK to 'underweight'Citigroup raises Japan stocks to 'neutral,' cuts UK to 'underweight'
Source: Investingcom - 🏆 450. / 53 Read more »