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

Deutsche Bank upgraded the US 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 fuelled concerns the industry ⁠would struggle to outgrow the broader market.