Nvidia earnings the next key catalyst for Big Tech: Barclays

Nvidia’s upcoming earnings report could be the next key catalyst for Big Tech stocks, Barclays strategists said in a note published Friday.

Still, Barclays views the roughly 16% drop in European tech stocks, and the approximately 30% decline in some of its key players, such as ASML (AS:The investment bank expresses a preference for the long-term secular growth potential and quality aspects that the tech sector offers, as opposed to the value-cyclical nature of other struggling sectors like Autos.

The bank’s FX team suggests that yen weakness might resume once market positioning stabilizes and U.S. recession fears subside, but further yen appreciation is possible if the global rate-cutting cycle accelerates due to a recession. They observed a significant reduction in yen shorts ahead of the BoJ meeting and expect more closures since then.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

A big cloud hangs over Big Tech earnings: Is all this AI spending worth it?Investors will be scrutinizing the AI spending levels of tech titans like Microsoft when they report earnings this week.
Source: CNBC - 🏆 12. / 72 Read more »

Barclays raises S&P 500 target to 5,600, sees strong tech earnings aheadStrong earnings from major technology companies should offset declines from other parts of the market heading into year-end, according to Barclays.
Source: CNBC - 🏆 12. / 72 Read more »

This tech stock may hold the key to the market — and it's not NvidiaFrank Cappelleri breaks down the chart in Meta and shows why it could determine the market's fate.
Source: CNBC - 🏆 12. / 72 Read more »