Goldman Sachs Unprofitable Tech Portfolio Surges 27% in May; JPMorgan Urges Caution

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JPM-0.53%
According to JPMorgan Chase's market intelligence unit led by Andrew Taylor, Goldman Sachs' portfolio of unprofitable tech stocks surged 27% in May, outperforming the Nasdaq-100 index by 17 percentage points—the best monthly performance since November 2020. Year-to-date, the portfolio has climbed 57%, compared to an 11% gain for the S&P 500. JPMorgan's analysts recommend investors remain cautious about high-risk individual tech stocks given the sharp rally, and favor larger, profitable technology companies, particularly as bond yields may pressure smaller, loss-making firms.
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