Apple, Google’s parent Alphabet, Microsoft, Amazon, Facebook will rise an average of 19% over the next 12 months as tech giants continue to drive the industry’s outperformance, Goldman strategists led by David Kostin wrote in a May 5 note.
He sees Nasdaq 100 up 2%, versus -1% for S&P 500 in the same timeframe
Current relative valuation may restrain upside, but superior sales and EPS growth prospects to drive tech returns
Long-term NDX earnings growth prospects strong relative to S&P 500 (19% vs. 12%)
The performance of NDX vs. S&P 500 relies on economic growth, but shows low sensitivity to other macro variables, such as changes in inflation, interest rates, U.S. dollar, oil.
Source: Bloomberg
Jr Trader Alexander Kumanov
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