Hedge Funds Beef Up Tech Holdings Before Apple, Amazon Earnings
- A ‘last hurrah’ to position for positive surprises: Cetera
- Moves buck common wisdom on recovery trade’s tech impact
This article is for subscribers only.
Hedge funds have fallen back in love with technology giants after spending the final months of last year cutting back on these stocks.
Just days before earnings land from the likes of Apple Inc. and Amazon.com Inc., professional investors turned more upbeat the industry. On Tuesday, the cohort made its largest net buying in a month, according to data compiled by Goldman Sachs Group Inc.’s prime brokerage. As a result, their net exposure in tech megacaps jumped at one of the fastest paces in recent years.