JPMorgan says growth stocks are looking ‘more interesting’ now — and picks a bunch to buy the dip

JPMorgan says growth stocks are looking ‘more interesting’ now — and picks a bunch to buy the dip

Summary : Growth stocks such as tech have endured a difficult year, but JPMorgan believes they are now looking more attractive than their valuations — and their defensive counterparts — as bond yields drop. The stock market has been plagued by broad risk-off sentiment this year, as investors rotate out of growth stocks amid a troubling macro backdrop. A series of earnings disappointments, particularly in growth sectors, have compounded market nervousness. We have been arguing to tactically favor growth over value, which can also be expressed through a better showing of the tech sector,” said the analysts, who added that the broader pullback in commodity prices are also lending relief to inflationary pressure.

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