US technology stocks face growing risks as investors seek to cash in on this year’s record-breaking rally, according to Citigroup Inc. strategists.
The Nasdaq 100 is most vulnerable to the threat, after soaring 46% from its April lows thanks to resurgent enthusiasm around advances in artificial intelligence. The tech-heavy benchmark set its latest record on Monday after
“Profit-taking risks have rapidly risen across markets, and are particularly elevated for Nasdaq, potentially hampering further upside,” the Citi team led by
Optimism over AI keeps propelling ...