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09 Mar 2023

#ideas2invest: Constructive on Global Technology - Optimistic long-term outlook

A 5 minute read
Story of the day

The global technology sector kickstarted the year strong, outperforming global equities by 8% year-to-date. While tech leaders have reported a mixed bag of earnings in their recent result announcements, management teams have generally guided for an optimistic outlook. With a projected 20% forward earnings growth expected in 2024, there is attractive value and further upside for multiple expansion.

Click Here: "We reiterate our constructive stance"

What does this mean for your portfolio?

This is an encouraging showing by all accounts after a turbulent 2022, which saw the sector correct some 30% due to a slew of headwinds. From recent share price performance, it appears that investors are gradually looking past the challenges of 2022. With solid fundamentals and sustained earnings recovery, we reinforce our constructive stance on the sector.

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