Markets

Optimistic investors plough money into US tech stocks amid concern over small cap firms

A global fund manager survey showed the allocation to tech companies is the highest since 2020

The 7 largest tech companies make up 30 percent of the $40 trillion US stock market. Picture: Michael Nagle

Investors are going “all in” on US technology stocks as they turn the most optimistic about global growth in two years, according to a survey by Bank of America.

However, concerns are rising about struggling smaller companies listed on global exchanges.

Allocation to tech companies, including the “Magnificent 7” - Apple, Alphabet, Microsoft, Amazon, Meta, Tesla and Nvidia - is at the highest since August 2020, the global survey of fund managers showed. The 7 ...