$Alphabet(GOOGL)$Wow people are really dumping tech stocks ahead of fomc release. I wonder what could be the reasons. Compelling factors would likely include declining revenue, profits, etc from rising competition in YouTube space, slowing advertising and cloud activity and strong USD crimping overseas income via translation effects. I also suspect another reason is that the market has priced in 75 bps, which means a lot of risk free assets are going to give higher returns, so people switch from holding tech stocks.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments