Market Overview

Bank Of America: Tech Will Lead The Charge In 2015

Bank Of America: Tech Will Lead The Charge In 2015

Investors can look for more of the same in 2015 according to a recent Bank of America report.

The technology sector has outperformed in 2014, and analysts predict technology will once again be the place to be in 2015.

US Equity Strategist Savita Subramanian argues that tech balance sheets are the healthiest of any sector, as technology is the only sector at the moment with more cash than debt. In addition, technology receives a disproportionately high percentage of investment capital in times of global spending growth.

From a valuation perspective, the technology sector is still widely discounted compared to its historical averages.

One spot the analysts highlight as an area of opportunity is social media. According to the report, the number of social media users could be upwards of 1.5 billion by 2016. And perhaps more importantly, 92 percent of business users credit social media as an important part of their operation.

The report specifically mentions Facebook Inc (NASDAQ: FB), Twitter, Inc (NYSE: TWTR) and LinkedIn Corp (NYSE: LNKD) as newly-public social media companies that will all continue to play a major role in the future of the space.

Facebook stock is up over 40 percent so far in 2014, while LinkedIn is down close to 1 percent and Twitter stock has dropped almost 42 percent.

Bank of America also sees tech opportunities in the following areas: cloud computing, big data, the Internet of Things, wearable technology, cyber security, 3-D printing, social media, and mobility.

Latest Ratings for FB

Oct 2020Truist SecuritiesMaintainsBuy
Oct 2020Wells FargoMaintainsOverweight
Oct 2020MizuhoMaintainsBuy

View More Analyst Ratings for FB
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