Citi says tech stocks are running out of room to rise

Big tech and AI drive stocks to all-time highs But as the second quarter begins, one analyst group says the tech sector’s portion of the broader market rally could soon slow.

Citi analysts downgrade tech sector ratings According to Bloomberg, from overweight to market weight. Citi’s sentiment gauge, the Levkovich index, has reached a “euphoric” level, suggesting returns could be weaker in the second half of the year.

Citigroup equity strategists believe there’s more to the U.S. stock market than just tech stocks. They downgraded the tech sector to market weight, but signaled a moderate overweight in some sectors, including Microsoft, which remains overweight, Bloomberg reported.

in spite of Growth of AICiti analysts maintained their market weight on semiconductor stocks. Major AI chip manufacturer NVIDIA and micron technology. Meanwhile, it downgraded the hardware sector, which includes tech giants like Apple and Dell, to underweight.

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