FYI: Investors wondering how long the distaste for technology stocks will last may be asking the wrong question.
The popular narrative is that stock pickers are selling tech after the massive runup this year and are piling into companies set to benefit from U.S. tax cuts. But observers such as Andrew Lapthorne of Societe Generale SA don’t buy it. They look at the contours of the selloff over the past few days and have a different take: A few heavy hitters are dumping factor positions that incidentally hurt chipmakers and software companies and once they’re done, the rally will resume.
Regards,
Ted
https://www.fa-mag.com/news/don-t-call-it-a-rotation--here-s-why-tech-probably-sold-off-36031.html?print
