Tech stocks may fall further, says Chris Wood
时间:2024-06-26 09:57:55 阅读(143)
The decline in the FANNGM (Facebook, Apple, Netflix, Nvidia, Google, Microsoft) stocks as a percentage of S&P500 market capitalisation probably has much further to run, partly because of Apple, which now has the greatest downside risk on the last man standing theme, said Christopher Wood, global head of equity strategy at Jefferies in his recent note to investors, GREED & Fear.
Nvidia and Netflix have fallen 55% each in the year to date. Facebook’s parent Meta Platforms is down 74%, while Google parent Alphabet has shed 43%. Microsoft and Apple have slid 36% and 23.7%, respectively.The capitulation in Big Tech stocks last week came at the same time as Exxon Mobil hit an all-time high on the release of its third quarter earnings. Wood characterised this as “the revenge of the physical” theme after the orgy in digitalia triggered by the pandemic.
The MSCI Pakistan Index is on 3.7x forecast 2023 earnings and a 2023 forecast dividend yield of 10.2%. The country was not in danger of imminent default as was feared a few months ago. The private-sector external debt totalled only $11.6 billion or 3.1% of GDP at the end of June 2022.
A pressing short-term issue in Pakistan, with foreign exchange reserves down to only $7.44 billion, is avoiding a balance of payments crisis.
Also Read:F&O expiry 10 Nov: Nifty support at 18000-17900, use dip to add long bets; keep eyes on RBI MPC for cues
“The crowding out of the private sector by government borrowings means a lack of risk-taking on the part of a banking system which continues to make easy money funding the government with 10-year government paper paying 12.9% yield. The government remains the big borrower with total government debt equivalent to 73% of GDP. Still a compensating factor is that most of the dollar debt is multilateral in nature,” said Wood.
上一篇:Delhi- Man claims woman he wanted to marry set him on fire, dies
下一篇:World stocks hit five-week peak, as dollar continues retreat
猜你喜欢
- Did ESA just discover Santa’s cosmic track to Earth- This spectacular click shows ‘path of sleigh’
- Equity markets in India- Is it time to be greedy or fearful-
- Donald Trump excluded from Maine primary- Secretary of State’s decision sparks another legal battle
- Daily gold price, silver, petrol, diesel rates- Everyday updates on FinancialExpress
- F&O expiry day- Sensex gives up 59000, fresh uptrend in Nifty likely above 17700 breakout; what dragged D-St-
- Sensex, Nifty snap two-day losing streak, are bulls ready to rally- Check support, resistance levels
- Delhiites adapt to heavily flooded streets! Rescue operations continue – See Photos
- Sensex settles at fresh life-time high; Nifty ekes out marginal gains
- Sensex ends two-day losing streak, Nifty resistance near 16700; focus now on US Fed meeting