Big Tech Is Driving the S&P Rally. The Rest Have to Step Up Soon
- Booming profit growth from tech giants is projected to slow
- ‘Need to see broader participation,’ Truist’s Lerner says
An Nvidia Cop. Quantum-X800 InfiniBand Platform displayed at Computex in Taipei on June 5.
Photographer: Annabelle Chih/BloombergThe unceasing growth of Big Tech has been an article of faith for investors since the latest stock market rally began in October 2022.
But with an uninspiring earnings outlook for the rest of 2024, other corners of the market will likely be needed if share prices are to keep soaring.