UBS downgraded the "Big Six" tech stocks from Overweight to Neutral:
- Amazon
- Apple
- Alphabet
- Nvidia
- Meta
- Microsoft
UBS cite:
- "difficult comps and cyclical forces weighing on these stocks"
- previously outsized earnings for these are "collapsing" ... earnings per share growth for this group is expected to slow to 15.5% from 42.2% by Q1 of 2025
