Goldman Sachs sammenligner med sektorernes udvikling fra 2010 til 2020 og ser et fundamentalt skifte i sektorerne og dermed dynamikken på aktiemarkedet – målt i den værdi, sektorerne har i aktieindekset for de 50 største selskaber. Hich Tech og Healt Care har på bare ti år fået en dominerende stilling, mens f.eks. industrivirksomheder er skubbet langt bagud. Goldman mener, at der er store muligheder for Med-tech, Fin-tech, Ed-tech, Green-tech og ESG-selskaberne (Environmental, Social and Governance).
Uddrag fra Goldman Sachs:
Change in leadership
Sector composition of the top-performing companies today reflects shifting growth dynamics.
Attractive equity returns of the last few years have reflected shifting demographics, social preferences, and consumer behaviors that translate into powerful earnings growth.
While the US technology sector has been well-positioned for these trends, the US market’s compositional advantage has begun to shrink as global economies invest in more profitable industries.
Additionally, the market’s willingness to pay a premium for more consistent profitability may extend to areas such as Med-tech, Fin-tech, Ed-tech, Green-tech, and Environmental, Social, and Governance (ESG), which could begin to balance out the global opportunity set.
Source: Bloomberg and GSAM.
