JPMorgan konstaterer, at festen er forbi for high-tech aktierne. De fem størst high-tech aktier har klaret sig forrygende i år på grund af coronakrisen og fremgangen for online-handelen. Indtil slutningen af oktober havde de en fremgang på 38,6 pct., mens S&P 500-indkeset faldt med 4,8 pct. Men siden 1. november er det gået helt anderledes. De fem store high-tech er nede med 2,1 pct., mens S&P 500 er oppe med 4,4 pct.
Uddrag fra JPMorgan:
Thought of the week
Over the past weeks, investors received welcome news on the development of vaccines against COVID-19, which has led to a powerful rotation in markets.
Through October of this year, the 5 largest names in the S&P 500 by market capitalization, which are mega-tech companies, returned 38.6% in the year and remarkably outperformed the rest of the index, which was down -4.8% during the same period.
However, the vaccine optimism has led markets to look beyond the pandemic, and cyclical sectors that were depressed for most of 2020 have recovered.
As shown in this week’s chart, the top 5 stocks are now down 2.1% since early November, trailing the S&P 500, which has returned 4.4%.
While the recent news around the vaccines is positive, we are still not out of the woods. There are crucial hurdles to overcome until the population is immunized, so volatility in markets will likely remain and a well-balanced approach is still warranted.
