Barclays chief stock strategist says Covid recovery trade is over, go back into Big Tech – CNBC

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The pandemic recovery trade has run its course, and now it’s time to get back into Big Tech stocks, one market strategist told clients Tuesday.

“We believe market leadership is likely to change from cyclical to secular growth stocks as the Covid recovery trade has mostly run its course. Secular growth stocks look favorably positioned to benefit from the digital transformation that got accelerated during Covid,” Barclays head of U.S. equity strategy Maneesh Deshpande said in a note.