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Tech stocks remain attractive in spite of recession fears: PhillipCapital

Chloe Lim
Chloe Lim7/15/2022 01:11 PM GMT+08  • 5 min read
Tech stocks remain attractive in spite of recession fears: PhillipCapital
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PhillipCapital research analyst Jonathan Woo is “overweight” on Meta (formerly known as Facebook), Apple, Amazon, Netflix, Google, and Microsoft (FAANGM) while reducing target prices across the companies.

Woo has given Meta, Apple, Amazon, Netflix, Google and Microsoft target prices of US$231 ($323.71), US$194, US$156, US$399, US$2,879 and US$338 respectively.

To the analyst, FAANGM continues to remain at attractive valuations, as they continue to trade at the lower quartile of their historical valuations at 27x forward P/E.

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