HSBC on tech stocks – “the froth has been removed from valuation”

Comments from chief investment officer of HSBC’s private bank conveyed via a Reuters report ICYMI:

• In technology, the froth has been removed from the valuations
• We do believe that AI and technological innovation more broadly will endure, will continue to create productivity gains… We don’t flee from it
• There are opportunities in technology, and technology is not just the Magnificent 7.
• expected positive economic growth
• favoured broadening out into medium-sized companies

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Quite the ride for tech stocks since the high in H1 of July.

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This article was written by Eamonn Sheridan at www.forexlive.com.