Deutsche Bank upgrades US tech, says selloff has gone too far
Deutsche Bank upgrades US tech, says selloff has gone too far
In short
The firm has formally evaluated conditions across the broader technology sector following a sharp decline. Based on market movements, analysts concluded that the recent selloff has gone too far. Consequently, the firm issued an upgrade to reflect an improved outlook for the equities.
Key points
- Institutional analysts believe the recent downward slide in technology shares has become…: Institutional analysts believe the recent downward slide in technology shares has become overextended.
- An official upgrade signals an improved medium-term outlook for the battered technology s…: An official upgrade signals an improved medium-term outlook for the battered technology sector.
- Investors are tracking the firm's reassessment as a potential indicator of a market botto…: Investors are tracking the firm's reassessment as a potential indicator of a market bottom.