- 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.
NEW YORK (Reuters) – The Nasdaq closed 1.4% lower and the S&P dipped slightly on Tuesday as investors sold off technology stocks that benefited from virus lockdowns, favoring sectors that have suffered most during the pandemic instead on hopes a COVID-19 vaccine will turn the economy around.
The heavyweight technology <.SPLRCT> and consumer discretionary sectors <.SPLRCD> fell sharply and communication services <.SPLRCL> languished while investors favored small caps and economically sensitive energy <.SPNY> and industrials <.SPLRCI> sectors as well as value stocks in consumer staples <.SPLRCS>.
The main U.S. indexes had hit intraday peaks on Monday after Pfizer Inc
(Reuters) – The Nasdaq closed up 2% on Wednesday as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress against a virus surge and likely timing for a economic rebound.
After falling sharply for two days, the tech-heavy Nasdaq was boosted by “stay-at-home” stocks such as Microsoft and Netflix Inc, which closed up more than 2% and Amazon.com Inc and Apple Inc, which advanced more than 3%.
Monday’s encouraging late-stage coronavirus vaccine trial data had prompted a two-day rotation away from technology stocks into sectors that outperform coming out of a
After a three-day market rout, Wall Street rebounded in trading on Sep 9 as investors jumped in to buy beaten-down tech stocks. The move has pushed the tech-heavy Nasdaq 100 to log its best day since April. The stocks that had plunged the most in the market rout recovered the most.
Concerns about excess purchases of call options tied to the tech sector, delay in the late-stage trial of the leading COVID-19 vaccine from AstraZeneca Plc AZN, election uncertainty and a historically weak September month took a toll on the stocks. Though the combination of these factors will continue to
Investors focused on the Computer and Technology space have likely heard of A10 Networks (ATEN), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.
A10 Networks is one of 604 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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