BofA Survey Shows Investors Are All In on US Tech Stock Rally
- Investor allocation to tech stocks highest since August 2020
- Survey shows global growth expectations hit two-year high
Technology companies have led US stocks to a record high this year.
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Investors are going “all in” on US technology stocks as they turn the most optimistic about global growth in two years, according to a survey by Bank of America Corp.
Allocation to tech is now at the highest since August 2020, the global survey of fund managers showed. Exposure to US equities more broadly has also risen, while easing macro risks prompted investors to trim cash levels by 55 basis points from January.