Deutsche Bank upgrades US and European tech sector, turns 'overweight' on software


FILE PHOTO: The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo

March 10 (Reuters) - ⁠Deutsche Bank upgraded the U.S. ⁠and European technology sector to "neutral" ‌from "underweight" on Tuesday and turned "overweight" on software, saying the months-long rout sparked by fears ​of AI-driven disruption ⁠has likely run ⁠its course.

The shift comes after a ⁠sharp global ‌software selloff over the past six months ⁠that left valuations at historically thin ​premiums and ‌fueled concerns the industry would ⁠struggle to ​outgrow the broader market.

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