The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
AB Bernstein downgraded technology stocks to "market weight" from "modest overweight," citing potential headwinds including high valuations and trade tensions.
In the meantime, some tech names with losses as much as 50 percent over the past six months have become very attractive, said a team of tech analysts at Bernstein, who recommend picking up cheap tech stocks in 2019.
"Tech has become notably more expensive on a cap weighted basis over the last two years, the percentage of tech companies beating consensus revenues dramatically slowed over the last two quarters," Bernstein's Toni Sacconaghi and Ann Larson said in a note to clients on Tuesday.
"We also worry about the risk of an escalating trade war, which could trigger increased prices – resulting in negative demand elasticity – for consumer technology offerings as well as supply chain disruptions," they added.