Standard Chartered Downgrades Semiconductor Stocks, Urges Profit-Taking After Concentrated Gains
Updated
Updated · CNBC · May 14
Standard Chartered Downgrades Semiconductor Stocks, Urges Profit-Taking After Concentrated Gains
2 articles · Updated · CNBC · May 14
Standard Chartered cut semiconductor stocks last week and told clients to take profits, while keeping an overweight stance on global equities.
Steve Brice said the call reflects very concentrated gains in chip names and argued investors should rotate into more globally diversified portfolios.
He warned a correction may be near, particularly for Korean equities, even as tech sentiment has been lifted by signs of easing U.S.-China business tensions.
CNBC's broader strategy discussion also pointed investors toward diversification through corporate credit, bonds and other "shock absorbers" such as infrastructure and hedge funds.
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