Tech Giants Set to Reach New Heights: Insights from Institutional Investors
Wall Street's tech giants continued to extend their gains recently. The Nasdaq 100 has once again outperformed other major indices, driven by the Magnificent 7.
$Microsoft(MSFT.US$ has hit a new high for three consecutive days and surpassed $367 per share last week, solidifying its position as a major AI winner. Microsoft's market capitalization has now reached $2.73 trillion, trailing $Apple(AAPL.US$'s by just $150 billion.
Despite a challenging macroeconomic environment, which includes the Federal Reserve's campaign to hike interest rates and the sharp rise of US Treasury yields, the technology industry has been able to outperform the overall market this year. This is because investors have sought companies with robust financial positions capable of weathering an imminent economic downturn.
I still think you have to be in large-cap tech. Large-cap tech America is about growth without needing to borrow, so that's an important story and that's part of the reason this sector rallied so hard the first part of the year as the Fed was hiking," Alicia Levine, BNY Mellon Wealth Management's head of investment strategy.
Here are institutional investors' bullish views on tech stocks.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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