The Next WebAlina Maria Stan
Deutsche Bank reportedly upgrades US tech after $2tn Nasdaq selloff
Deutsche Bank has turned positive on US technology stocks again, upgrading the sector to overweight, Reuters reported on Monday.
An overweight rating means the bank advises clients to hold more of the sector than usual, and it reverses a downgrade made about three weeks earlier.
That earlier move, on October 9, cut tech to neutral, according to MacroBusiness. The bank described it as a short-term call at the time, warning that risks outweighed the likely rewards.
In a note to clients on Friday, the bank’s strategists said the recent selloff had created a good chance to buy. In their view, much of the risk linked to AI is already reflected in share prices.
Investing.com, which also reported the note, named the strategists…
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