Goldman’s Oppenheimer Says Tech Stock Valuations Are Attractive
Shares of tech companies hit record highs last October thanks to rapid revenue growth, booming profits and dominant market positions.
Photographer: Michael Nagle/BloombergThe technology sector is looking increasingly attractive for investors as valuations fall below those of the wider stock market, according to Goldman Sachs Group Inc. strategists.
Tech’s recent underperformance is starting to generate attractive opportunities as “its valuation, relative to expected consensus growth, has fallen below that of the global aggregate market,” the team led by Peter Oppenheimer wrote in a research note Tuesday.