UBS downgrades U.S. tech sector despite a recovery

UBS downgrades U.S. tech sector despite a recovery

Key Points UBS downgraded its outlook on U.S. IT stocks on Tuesday, citing lingering “software uncertainty” and increased capital expenditure. The Swiss investment bank’s move comes after a sell-off in software stocks over the past week as investors turn cautious towards the sector. UBS recommended investors diversify exposure to other sectors, including healthcare and utilities….

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