Insights from GS Prime Brokerage:1. Info Tech was the most net-bought sector this week, driven mainly by short covers wh…
Insights from GS Prime Brokerage:
1. Info Tech was the most net-bought sector this week, driven mainly by short covers while long buys remain relatively weak.2. Info Tech stocks are still heavily net sold MTD. This week's net-buying through to Thursday represents just ~40% of what HFs had sold in the previous 3 weeks.3. Mag 7 stocks were net sold from Tuesday to Friday last week, highlighting risk-off sentiment.4. Semis & Semi Equip (long buys), Software (short covers), and Tech ETFs (short covers) were the most net-bought Tech subsectors this week.5. Goldman Sachs: "While the directional engine of this market remains intact (token demand + GW/DC build-outs), the market has become much more discerning around the linearity of this story beyond CY27, pressuring multiples across the board until visibility improves, while investors are struggling to find names to rotate into outside of Semis/AI that are less susceptible to daily AI disruption volatility – cue names like IBM, AAPL, SPOT, V/MA, EBAY, LYV all trading well on the week/month."
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