BofA 调查显示，投资者对科技股的超配程度升至 2020 年 8 月以来最高

Image 3: Plus500

Plus500

4.9

★★★★★

Open Account

Read Review

eToro

4.8

★★★★★

Open Account

Read Review

Tools

Calendars * Economic Calendar * Holiday Calendar * Earnings Calendar * Dividend Calendar * Splits Calendar * IPO Calendar * Futures Expiry Calendar

Investment Tools

*   [Stock Screener](https://www.investing.com/stock-screener)
*   [Fed Rate Monitor Tool](https://www.investing.com/central-banks/fed-rate-monitor)
*   [Currency Converter](https://www.investing.com/currency-converter/)
*   [Fibonacci Calculator](https://www.investing.com/tools/fibonacci-calculator)

BofA poll shows tech overweight hits highest since August 2020

AuthorVahid Karaahmetovic

Stock Markets

Published Oct 13, 2026, 07:02 AM

BofA poll shows tech overweight hits highest since August 2020

View all comments (0)0

BofA poll shows tech overweight hits highest since August 2020

View all comments (0)0

Image 5: © Reuters

In this article:

NDX-0.71%

US500-0.06%

IYW-0.82%

Investing.com --Global fund managers have the biggest overweight in technology stocks since August 2020, as investors stay optimistic on the macro and market outlook while running low cash levels, according to Bank of America’s October fund manager survey.

The poll, conducted Oct. 2-8, covered 161 participants managing $453 billion in assets. Strategists led by Michael Hartnett said a net 47% of respondents expect above-trend growth and above-trend inflation, the most since February 2022. About six in 10 expect double-digit earnings growth next year, and 76% expect no Fed rate hike at the Oct. 28 meeting.

Unlock key market insights on InvestingPro — 55% off ends soon

At the same time, BofA’s broadest sentiment measure, based on cash levels, equity allocation and growth expectations, fell to 6.4 from 7.0. "Growth expectations are slowing, and U.S. equity performance is also moderating," Hartnett wrote. Fifty percent of investors expect "no landing" for the economy, down from 55% in September, while 40% expect a soft landing and 6% a hard landing.

Cash holdings stayed at 3.9% of assets, well below the 4.8% high in the bearish April 2025 survey and still in "sell signal" territory under BofA’s cash rule. Net equity longs slipped to 44% from 49%. Investors made their biggest cut to bank longs since March 2023 and are the most underweight consumer discretionary since July 2008.

Pessimism on bond yields fell to its lowest since May 2025, with a net 1% of respondents expecting higher long-term rates, down from 15% in September. Asked what 10-year Treasury yield would make allocators move from stocks to bonds, 37% said 6% and 14% said 6.5%. Another 19% said they are already shifting.

Long global semiconductors is the most crowded trade, at 45%, followed by short Treasuries at 27%, long Magnificent Seven at 16% and long dollar at 5%.

The biggest tail risks are a disorderly rise in bond yields, at 31%, an AI bubble at 23%, a second inflation wave at 20% and a hyperscaler credit event at 11%, the survey showed. Investors see AI hyperscaler capital spending as the "most likely source of a systemic credit event," at 39%, followed by government debt at 28%.

About 45% of investors expect an AI bubble in 2027, while 32% do not. When asked about cuts to AI capital spending, 57% don’t expect them and 30% do. A drop in oil below $80 a barrel would be the fourth-quarter bull surprise, BofA said, with an AI capex cut the bear surprise.

BofA’s contrarian trades are long bonds, REITs and consumer stocks, and short stocks, tech, banks and emerging markets.

Still fact-checking your AI's answers?

Sounding certain is the one thing AI never gets wrong. Being right is harder.

WarrenAI Analyst 2.0 fact-checks itself up to 10 times before it answers, pulling live data from 14 Investing.com sources and showing its work line by line. If a number can't be confirmed, it says so.

Every question costs one credit. InvestingPro gives you enough of them to actually use it.

Flash Sale - 55% Off InvestingPro

BofA poll shows tech overweight hits highest since August 2020

View all comments (0)0

Latest comments

Post

Comment Guidelines

Loading next article…

Trade With A Regulated Broker

Indices Commodities Bonds Stocks

Max

US 30

52,086.60

+236.3

+0.46%

US 500

7,803.30

-3.9

-0.05%

Dow Jones

51,850.55

+195.60

+0.38%

S&P 500

7,807.24

-4.30

-0.06%

Nasdaq

27,245.90

-120.27

-0.44%

S&P 500 VIX

15.48

+0.27

+1.78%

Dollar Index

102.065

-0.310

-0.30%

Crude Oil WTI Futures

91.84

-1.90

-2.03%

Brent Oil Futures

104.70

-1.95

-1.83%

Natural Gas Futures

3.113

-0.054

-1.71%

Gold Futures

4,210.22

+19.62

+0.47%

Silver Futures

60.645

+0.132

+0.22%

Copper Futures

6.7625

+0.0155

+0.23%

US Soybeans Futures

1,281.63

-5.38

-0.42%

U.S. 10Y

5.174

-0.072

-1.37%

U.S. 30Y

5.546

-0.053

-0.95%

U.S. 5Y

4.965

-0.056

-1.12%

U.S. 3M

4.151

-0.013

-0.31%

US 10Y T-Note Futures

104.91

+0.34

+0.33%

Euro Bund Futures

121.38

+0.34

+0.29%

10-2 Yield Spread

31.32

+4.15

+15.27%

AAPL

340.97

+4.33

+1.29%

NVDA

226.32

-2.96

-1.29%

GOOGL

352.72

+1.06

+0.30%

TSLA

378.03

-4.67

-1.22%

AMZN

259.53

-2.90

-1.11%

NFLX

70.61

+0.31

+0.44%

Name	Last	Chg. %	Vol.
FICO	740.00	+10.85%	2.01M
SHOP	179.22	+4.90%	12.45M
LW	50.18	+4.83%	3.26M
MDT	91.93	+3.90%	36.56M
MOH	204.36	+3.77%	697.57K
ZBH	92.17	+3.40%	1.80M
META	742.96	+3.38%	24.88M

Name	Last	Chg. %	Vol.
LITE	995.41	-9.78%	6.46M
GLW	147.28	-6.00%	8.01M
SNDK	1,487.33	-5.97%	8.80M
ALAB	324.11	-5.29%	3.74M
MRNA	213.74	-5.00%	12.87M
NBIS	210.06	-4.98%	14.06M
AKAM	101.65	-4.96%	3.43M

Trending Stocks

Name	Last	Chg. %	Vol.
MU	989.04	-3.88%	23.98M
SNDK	1,487.33	-5.97%	8.80M
NVDA	226.32	-1.29%	70.69M
SPCX	163.42	+0.52%	67.43M
META	742.96	+3.38%	24.88M

ProPicks AI

AI-powered stock picks with a proven track record to beat the S&P 500.

Tech Titans

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Top Value Stocks

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Best of Buffett

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Energy Elite

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Financial Fortresses

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Quality Compounders

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Small-Cap Sprinters

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Healthcare Heroes

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Beat the S&P 500

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Dominate the Dow

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Mid-Cap Movers

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Mexican Stock Exchange Leaders

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Best Brazilian Stocks

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Italian Market Elite

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Alpha Germany Select

Stocks in this Strategy

aaaa aaaaa aaaa a

Unlock Strategy

Comments

Post

Comment Guidelines

Calendars

Economic Calendar Earnings Calendar Holiday Calendar

US Economy

Fed Rate Monitor Tool US Treasury Yield Curve

More Tools

Stock Screener Currency Converter

Markets Ask WarrenAI Stocks Picked by AI Watchlist Alerts Top Brokers Breaking News Tools

Install Our App Scan QR code to install app

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.Fusion Mediaand any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

By using this site, you agree with our use of cookies. Please see our privacy statement for more information.

BofA 调查显示，投资者对科技股的超配程度升至 2020 年 8 月以来最高

Popular Searches

Please try another search

Top Brokers

BofA poll shows tech overweight hits highest since August 2020

Still fact-checking your AI's answers?

Latest comments

Trending Stocks