Lucas Jackson/Reuters
- With positive COVID-19 vaccine news lifting value stocks related to the reopening trade, technology stocks have underperformed.
- In fact, since September 23, value stocks have outperformed growth stocks across all market cap segments, according to a Monday note from Oppenheimer.
- Technology investors should stay calm, as the underperformance of growth stocks over the past couple months likely has to do with a potential tax-hike under a Biden administration, the note said.
- “Interest rates are likely to remain low for the intermediate term suggesting that growth will retain its attraction for investors,” Oppenheimer’s Chief Investment Strategist John Stoltzfus said.