Shares of companies in the broader tech sector are trading lower amid concerns over further Fed rate hikes, which could negatively impact growth stocks.
Portfolio Pulse from Benzinga Newsdesk
Shares of tech sector companies are trading lower due to concerns over potential further Fed rate hikes, which could negatively impact growth stocks.
July 06, 2023 | 3:09 pm
News sentiment analysis
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NEGATIVE IMPACT
Salesforce's stock is trading lower due to concerns over potential further Fed rate hikes.
As a tech sector company, Salesforce's stock is likely to be negatively impacted by the potential further Fed rate hikes. Higher interest rates can make growth stocks less attractive to investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Intuit's stock is trading lower due to concerns over potential further Fed rate hikes.
As a tech sector company, Intuit's stock is likely to be negatively impacted by the potential further Fed rate hikes. Higher interest rates can make growth stocks less attractive to investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Zoom's stock is trading lower due to concerns over potential further Fed rate hikes.
As a tech sector company, Zoom's stock is likely to be negatively impacted by the potential further Fed rate hikes. Higher interest rates can make growth stocks less attractive to investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100