Overweight The S&P tech hardware, storage & peripherals (THSP) index bounced yesterday on the back of index heavyweight Apple’s results. While the relatively weak results had long been telegraphed to the market and the…
Overweight (downgrade alert) The S&P tech hardware, storage & peripherals (THSP) index has been falling from its late-summer peak, caused first by weak quarterly guidance from Apple (which comprises close to 90% of…
Overweight (downgrade alert) In an August Insight Report, we noted the stratospheric rise of Apple was the key driver of the S&P 500's exceptional run and the S&P tech hardware, storage & peripherals (THSP) index's…
Overweight (High-Conviction) The S&P tech hardware, storage & peripherals (THSP) index has been an outstanding performer on our high-conviction list, returning more than 15% relative to the S&P 500 in the less than…
As the SPX and a slew of other indices have vaulted to fresh all-time highs, a deeper dive into profit margins is in order. While the S&P 500's profit margins are benefiting from the one-time fillip of lower corporate taxes in…
Overweight (High-Conviction) The S&P tech hardware, storage & peripherals (THSP) index touched a new all-time relative high this week on the back of another stunning earnings outperformance by Apple. In our opinion, there are…
Overweight (High-Conviction) We lifted the S&P tech hardware, storage & peripherals (THSP) index to a high conviction overweight last month on the back of our expectation of ongoing rising global capex, a key BCA investment…
Overweight (High Conviction) As highlighted in this week's Weekly Report, we are moving to a benchmark allocation in the S&P information technology sector. The way we are executing the upgrade is by lifting the S&P tech…
Highlights Portfolio Strategy The capex upcycle, a soft U.S. dollar and improving end demand signal that it no longer pays to underweight the S&P tech sector. Lift exposure to neutral. Firming domestic and global final demand,…