Barclays sees Nvidia's earnings report as key influencer for Big Tech; concerns about AI spending

From Investing.com: 2024-08-09 16:26:57

Barclays strategists indicate that Nvidia’s upcoming earnings report on August 28 will have a significant impact on Big Tech stocks, amidst concerns about AI spending impacting equities. European Tech stocks have seen a drop, prompting Barclays to take an overweight position this week due to the sector’s long-term growth potential. Sharp movements in the market have been attributed to the de-grossing of leveraged positions, particularly carry trades involving shorting low-yielding Japanese yen assets. While yen weakness might resume, further yen appreciation is possible if the global rate-cutting cycle accelerates. Barclays strategists advise caution due to summer seasonality and elevated volatility, but see buying opportunities for long-term investors.



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