Why Tech Stocks Are Poised for a Strong Comeback Now

InvestorPlace07-27

Meet Luke Lango Key Takeaways: When it comes to the forward path for tech stocks, our bullishness is rooted in four fundamental ideas: Earnings are strong because companies are spending ...

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Earnings are strong because companies are spending billions to build and integrate new AI products and services. We believe that trend should continue because AI adoption at both the enterprise and consumer levels remains low and will only increase over the next few quarters and years.Inflation is falling toward the Fed’s 2% target and, indeed, is almost there already. Meanwhile, commodity prices – like oil and copper – have been in a freefall over the past several weeks.The outlook for Fed rate cuts is improving, and we think that will remain the case. With inflation back to nearly 2% and the job market starting to crack, it seems likely that the Fed will cut rates multiple times over the next six months.Earnings are strong because companies are spending billions to build and integrate new AI products and services. We believe that trend should continue because AI adoption at both t","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4575":"芯片概念","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","BK4587":"ChatGPT概念","BK4566":"资本集团","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","IBM":"IBM","NVDA":"英伟达","BK4538":"云计算","BK4579":"人工智能","BK4588":"碎股","LU1917777945.USD":"安联专题基金Cl AT Acc","BK4550":"红杉资本持仓","LU1923622614.USD":"Natixis Thematics Meta R/A USD","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","BK4503":"景林资产持仓","LU1883839398.USD":"AMUNDI FUNDS INCOME OPPORTUNITIES \"A2\" (USD) ACC","BK4551":"寇图资本持仓","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4097":"系统软件","LU0056508442.USD":"贝莱德世界科技基金A2","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","ARM":"ARM Holdings Ltd","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU1923622291.USD":"Natixis Thematics Safety R/A USD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","SMCI":"超微电脑","LU0109392836.USD":"富兰克林科技股A","NOW":"ServiceNow","BK4529":"IDC概念","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金","BK4567":"ESG概念","BK4528":"SaaS概念","BK4585":"ETF&股票定投概念","BK4554":"元宇宙及AR概念","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD"},"translate_title":"为什么科技股现在有望强劲反弹","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SMCI":0.9,"ARM":0.9,"NVDA":0.9,"NOW":0.8,"IBM":0.7},"content_text":"Meet Luke Lango\t\t\n\n\n\n\nKey Takeaways:\nWhen it comes to the forward path for tech stocks, our bullishness is rooted in four fundamental ideas:\n\nEarnings are strong because companies are spending billions to build and integrate new AI products and services. We believe that trend should continue because AI adoption at both the enterprise and consumer levels remains low and will only increase over the next few quarters and years.\nInflation is falling toward the Fed’s 2% target and, indeed, is almost there already. Meanwhile, commodity prices – like oil and copper – have been in a freefall over the past several weeks. \nThe outlook for Fed rate cuts is improving, and we think that will remain the case. With inflation back to nearly 2% and the job market starting to crack, it seems likely that the Fed will cut rates multiple times over the next six months. \nThe economy is growing at a healthy pace. And with both inflation and interest rates set to fall in the coming months, the U.S. economy should only strengthen going forward.\n\n\n\n\nOver the last two weeks, stocks – tech stocks in particular – have been hammered hard. Between July 11 and 25, the S&P 500 slid more than 4%. And the Nasdaq Composite shed nearly 8% in that same timeframe.\nBut in the past two days, the selling pressure on Wall Street has turned into buying pressure. Now suddenly, stocks are in rebound mode. \nAnd we think this rebound has some serious legs behind it.\nTo understand why, just consider the notable news of the past two days. \nThis stock market rebound started on Thursday, in response to a wave of strong earnings reports from companies like ServiceNow (NOW) and IBM (IBM). Both reported exceptional growth on the back of strengthening – not weakening – AI investment and spending trends. \nAdditionally, stocks received extra firepower from a stronger-than-expected second-quarter GDP report. The data showed that after a sluggish first quarter, the U.S. economy rebounded strongly, growing by an impressive 2.8% – far above expectations of just 2%.\nThen, on Friday, stocks continued to rebound on the back of a major inflation report. June’s Personal Consumption Expenditures (PCE) report showed that the overall U.S. inflation rate dropped to just 2.5% in June, quickly closing in on the Federal Reserve’s target. In response, investors increased their rate-cut bets; and now the market sees more than three rate cuts by January 2025. \nIn other words… when you look at why stocks have rebounded over the past two days… you start to see some really promising and durable trends.\nUnderstanding Our Bullish Outlook on Tech Stocks \nWhen it comes to the forward path for tech stocks, our bullishness is rooted in four fundamental ideas:\nEarnings are strong because companies are spending billions to build and integrate new AI products and services. We believe that trend should continue because AI adoption at both the enterprise and consumer levels remains low and will only increase over the next few quarters and years.\nInflation is falling toward the Fed’s 2% target and, indeed, is almost there already. That should continue as well. Business surveys suggest that broadly speaking, companies have stopped hiking prices. Meanwhile, commodity prices – like oil and copper – have been in a freefall over the past several weeks. \nThe outlook for Fed rate cuts is improving, and we think that will remain the case. With inflation back to nearly 2% and the job market starting to crack, it seems likely that the Fed will cut rates multiple times over the next six months. \nThe economy is growing at a healthy pace. And with both inflation and interest rates set to fall in the coming months, the U.S. economy should only strengthen going forward. \nFrom head to toe, the fundamentals supporting stocks right now are very good. It’s just that simple. \nWhen the fundamentals are this strong, weakness in the stock market should be bought, especially when that weakness starts to turn into strength. \nThat’s exactly the setup we have right now. \nAnd that means this is the time to back up the truck and buy this dip. \nThe Final Word\nBut what stocks should you look to buy? \nWe like high-quality AI stocks on this dip. They were at the epicenter of all the recent selling, so they’ll likely be at the epicenter of the coming bounce, too. \nThink names like Nvidia (NVDA), Super Micro (SMCI) and Arm (ARM). All are down about 10% over the past month. Yet, AI firms are broadly reporting very good earnings, as noted above. And those strong fundamentals will create robust demand for those stocks on this rebound. \nNow, we aren’t targeting NVDA, SMCI and ARM specifically. Instead, we’re looking at different AI stocks… more under-the-radar picks… that are just as high-quality but with even more potential. \nCheck out the AI stocks we’re considering right now.\nOn the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.\nP.S. You can stay up to speed with Luke’s latest market analysis by reading our Daily Notes! Check out the latest issue on your Innovation Investor or Early Stage Investor subscriber site. \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\n Luke Lango\nEditor, Hypergrowth Investing\n\n\nMeet Luke Lango\nBy uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends.\n\n\n\n\n\t\t\t\tLearn more about Luke\t\t\t\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/hypergrowthinvesting/2024/07/why-tech-stocks-are-poised-for-a-strong-comeback-now/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454795233"}