Citi sees further upside potential for global technology stocks - These are the top picks from Citi bankers

Citi sees further upside potential for global technology stocks - These are the top picks from Citi bankers

According to a report by www.wallstreet-online.de,

The technology sector has delivered impressive returns in recent years. This was reflected in the performance of the iShares Global Tech ETF, which achieved a return of over 50 percent in 2023, significantly outperforming the S&P 500. The major US bank Citi has paid particular attention to this sector and has overweighted the technology sector in the cyclical growth stocks segment. Citigroup is particularly optimistic about certain markets, including China, which is seen as promising despite capital flight and a brief respite from recent monetary easing. Citi forecasts a slight cyclical recovery in the Chinese economy by 2024.

Based on these facts, we can assume that Global Tech Stocks continue to have growth potential due to the changing economic situation in China. Citi bankers' overweighting of the technology sector suggests they are optimistic about the sector's future and can benefit from further growth. Investors could show increased interest in technology stocks due to these positive forecasts, which could lead to further upward movement in prices. This development could also have a positive impact on the overall market and increase consumer confidence in the technology sector.