Megacap growth and tech stocks may extend recent uptrend, driven by earnings beats and rising forward estimates: Deutsche Bank

Megacap growth and tech stocks have powered robust gains on Wall Street this year, with big tech shares gaining safe-haven status for investors fearing a potential recession and volatility in the banking sector. The rally still has more room to run, according to strategists at Deutsche Bank.The...

Chadha and his team said a pickup in global growth in the near-term and a peak in the U.S. dollar point to a sizable rebound in earnings growth for megacap growth and tech stocks. Deutsche Bank’s forecasts see tech earnings rebounding off the bottom of the trend channel, returning to trend levels in Q1 and then growing in line through the rest of 2023 and 2024.

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