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Analysis-Some investors bet top growth stocks will thrive in U.S. recession
Concerns about a possible U.S. recession are prompting some fund managers to rotate back into the big tech and growth winners of the last decade in the hope that they can better weather an economic storm. Many stalwarts like Microsoft Corp, Apple and Google-parent Alphabet Inc have suffered declines on par with or exceeding those in broader stock indexes this year, as jumbo rate hikes delivered by an inflation-fighting Federal Reserve hit the tech and growth names that led markets in previous years. Since growth companies tend to be less affected by the broader economy’s performance, however, some investors believe the category’s most profitable names may outperform the rest of the market if the Fed’s hawkish policy stance drags the U.S. into recession.