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Rallying Tech Stocks Get No Love With Profit Recession Looming
Headed into the heart of earnings season, hedge funds cut their industry exposure to the lowest level since July 2016, client data compiled by Goldman Sachs showed. Meanwhile, investors have pulled money out of exchange-traded funds tracking the group for a fourth straight month, with total withdrawals topping $8 billion, according to data compiled by Bloomberg. Blame it on whatever you want -- Apple’s sales warning, the U.S.-China trade spat and intensified regulatory scrutiny -- underlying all of it is a deteriorating profit picture.
https://finance.yahoo.com/news/rallying-tech-stocks-no-love-050100698.html?.tsrc=rss
Headed into the heart of earnings season, hedge funds cut their industry exposure to the lowest level since July 2016, client data compiled by Goldman Sachs showed. Meanwhile, investors have pulled money out of exchange-traded funds tracking the group for a fourth straight month, with total withdrawals topping $8 billion, according to data compiled by Bloomberg. Blame it on whatever you want -- Apple’s sales warning, the U.S.-China trade spat and intensified regulatory scrutiny -- underlying all of it is a deteriorating profit picture.
https://finance.yahoo.com/news/rallying-tech-stocks-no-love-050100698.html?.tsrc=rss
