October 21, 2024

Tech Stocks Back in Focus: Has U.S. Recession Fear Faded? ICICI Securities Weighs In

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Amit Gupta, Sr. VP & Fund Manager at ICICI Securities, shares his insights on the IT sector, discussing both the challenges and opportunities ahead. Despite a lacklustre earnings season for some Large-cap IT companies, Amit Gupta remains bullish on the sector. ICICI Securities is actively adding IT stocks to its portfolio, as the sector begins to adapt to new technologies like AI. Amit Gupta has added that while there were initial concerns about how AI would impact companies, history has shown that Indian firms quickly learn and provide cost-effective solutions, driving outsourcing demand. He has also highlighted the growing use of software in cars, with an increase from 8% to 26%, and projections reaching 58%. With the slowdown concerns in the U.S. easing and interest rate cuts on the horizon, the macro outlook looks more favourable. Watch this video to learn more about the future of IT stocks and how AI and technology trends are reshaping the sector.

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