Profit momentum of Big Six tech companies to 'collapse' over 2024, UBS says

FILE PHOTO: An Apple logo is pictured in an Apple store in Paris, France, March 6, 2024. REUTERS/Gonzalo Fuentes/File Photo

(Reuters) - Profit growth momentum of the so-called Big Six technology stocks could "collapse" over the next few quarters, UBS Global Research strategists said on Monday, downgrading its rating on the mega-cap companies.

Growth in earnings per share (EPS) of the "Big 6 TECH+" stocks - Apple, Amazon.com, Alphabet, Meta, Microsoft, and Nvidia - was projected to decline to 15.5% by the first quarter of 2025, from 42.2% estimated for the same period this year, strategists led by Jonathan Golub said.