Citation :
The Bank of America strategists also named selling US tech stocks as one of their top trades for 2023. Tech is still over-owned, even after a 28% slump for the Nasdaq 100 Index this year, they said. Heavyweight tech companies -- valued on future earnings potential -- will suffer as the era of easy monetary policy is over, while also facing risks from more regulation, according to Hartnett. Analyst estimates also reflect an increasingly negative view on US tech. The sector is now expected to see earnings contract in 2023, down from expectations of 3.8% earnings per share growth as recently as mid-October
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