Growth shares led the market sell-off in 2022, however it’s too quickly to purchase in, in keeping with UBS strategists.
“Going ahead, we predict it’s nonetheless too early to get again into tech shares. While valuations for progress shares at the moment are much less demanding, they’re nonetheless excessive relative to worth shares,” David Lefkowitz, head of Equities Americas at UBS Global Wealth Management stated in a be aware to buyers.
The S&P 500 (^GSPC) simply had its worst 12 months since 2008. The backside 5 shares for 2022, have been Apple (AAPL), Amazon (AMZN), Tesla (TSLA), Microsoft (MSFT), and Meta (META).
“As a gaggle, these shares accounted 19% of the S&P 500 market cap in 2022 and -8.7 proportion factors of the S&P 500 return. On common, these shares fell -47% in 2022,” famous Lefkowitz and his workforce of strategists in a be aware to shoppers.
“Many of the costliest shares suffered from the surge in rates of interest (which weighed on valuations) in addition to a slowdown in segments of tech comparable to e-commerce, digital promoting, and cloud…
2023-01-05 14:41:25 It’s ‘nonetheless too early’ to get again in, says UBS strategist
Source from finance.yahoo.com