德意志銀行上調美國科技股評等，稱賣壓已過頭

11月2日（路透）— 德意志銀行（Deutsche Bank）轉為看多美國科技股，扭轉三週前的調降立場，稱科技股大幅下跌已創造具吸引力的買進機會，且與人工智慧（AI）相關的風險多半已反映在價格中。Nov 2 (Reuters) - Deutsche Bank turned bullish on US technology stocks, reversing a downgrade made three weeks ago, saying a sharp selloff has created an attractive buying opportunity and much of the AI-related risk was already priced in.

那斯達克100指數上月市值蒸發逾2兆美元，因投資人重新評估AI相關投資與成長預期。More than $2 trillion was wiped off the Nasdaq 100's market value last month, as investors reassessed AI-related investments and growth expectations.

以下是這家券商週五報告的更多細節：Here are more details from the brokerage's Friday note:

• 科技股與大型成長股過去三週落後標普500指數其餘成分股逾16個百分點，這類股票下跌約11%，而大盤指數則上漲近6%，使該板塊接近其歷史交易區間低端• Tech and mega-cap growth stocks have lagged the rest of the S&P 500 by more than 16 percentage points over the past three weeks, falling about 11% while the broader index rose nearly 6%, leaving the sector near the low end of its historical trading range

• 「美股七巨頭」財報結果加深投資人對大量AI支出回報速度的憂慮，助長近期大型科技股的疲弱走勢• "Magnificent Seven" results reinforced investor concerns about the pace of returns from heavy AI spending, contributing to recent weakness in large-cap technology stocks

• 科技股相對表現已降至長期區間底部；近年來，這一水準曾是具吸引力的進場點• Technology's relative performance has fallen to the bottom of its long-term range, a level that has marked attractive entry points in recent years

• 過去資金輪動重返科技股後，平均漲幅約32%，並較標普500指數其餘成分股高出約30個百分點• Previous rotations back into tech have resulted in average gains of about 32% and roughly 30 percentage points of outperformance versus the rest of the S&P 500

• 儘管獲利穩健成長，整體股票部位仍相對偏低；若企業獲利維持韌性，投資人仍有增加曝險的空間• Overall equity positioning remains relatively light despite solid earnings growth, leaving room for investors to increase exposure if corporate profits remain resilient

（班加羅爾Rashika Singh報導；Harikrishnan Nair編輯）(Reporting by Rashika Singh in Bengaluru; Editing by Harikrishnan Nair)