Are Investors Too Overweight Tech Stocks?

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According to a Bank of America fund manager survey, investors are the most overweight they have been in the technology sector since December 2021, with 60% of respondents saying being long big tech as the most crowded trade. A Bank of America analysis of Q2 filings shows that 20% of stock funds had more than 40% of their assets in the seven biggest technology companies. The seven stocks accounted for 29% of active funds’ weight in S&P 500 companies, 150 basis points higher than their weight in the index. Investors have been flocking into technology stocks as growth in both earnings and revenue…

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