| Technology stocks have struggled to start the year, and equity analyst Toni Sacconaghi says there are names you should consider — and avoid — amid the sell-off.
"The magnitude of the recent growth to value rotation in tech has few historical precedents," the Bernstein analyst said in a note Wednesday. "The most expensive quintile of tech stocks has collapsed."
High-growth tech stocks have fallen as investors brace for the Federal Reserve to hike interest rates and tighten monetary policy to address inflation. Growth stocks trade on the promise of big earnings in the future, so tech shares are often susceptible to declines from rising rates due to their high valuations.
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