High-growth tech stocks have come under pressure in recent months as investors anticipate the Federal Reserve hiking interest rates, reducing bond buying and trimming the nearly $9 trillion in assets it’s holding. Neuberger Berman’s Daniel Flax says a lot of the names in the tech space have become oversold and he sees opportunities to buy. “We see a lot to like at current levels in the sector,” Flax said Wednesday on CNBC’s “Squawk Box.” The same underlying drivers of the tech space remain in place, Flax said, pointing to continued innovation and growth in the buildout of digital infrastructure. Flax highlighted the durability of Microsoft Corp’s platforms like Azure. The company on Tuesday announced that cloud services revenue increased by 29 percent, driven by Azure. Apple Inc is scheduled to announce its fourth-quarter financial results after the market closes on Thursday. Flax acknowledged that supply chain constraints will remain a factor for Apple, but he expects to see a continued …
Neuberger Analyst Expects Strong Q4 Results for Apple, Amazon, Google: Why He Would Buy the Stocks ‘Right Now’
January 27, 2022
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