Evercore's Emanuel Says Earnings Can Lift Megacap Tech After 10% Selloff

1 articles · Updated · Bloomberg · Jun 23

Megacap technology stocks can regain investor favor after recent declines of more than 10%, according to Evercore ISI chief equity and quantitative strategist Julian Emanuel.
Good earnings will be the catalyst, Emanuel said on Bloomberg Television, arguing results will again provide the proof investors need to buy the sector.
April and May already showed that pattern, he said, when strong earnings helped drive a furious rally in big technology shares.
The call frames the current tech pullback as an earnings-driven reset rather than a lasting break in leadership for megacap stocks.