- Goldman Sachs traders flagged a group of lagging large-cap technology and payments stocks as potential rebound candidates amid a strong tech rally.
- The suggested basket of “fallen angels” includes Arista Networks, DoorDash, Synopsys, Amazon, Roblox, VISA and Mastercard.
- Amazon drew attention over reports it is exploring a multibillion-dollar investment in OpenAI tied to Trainium chips, while payments firms show steady volumes despite lagging price performance.
Goldman Sachs traders said technology gains could carry into the new year after the Nasdaq 100 rose roughly 22% so far in 2025, according to a CNBC report. The trading desk circulated a note on Tuesday identifying out-of-favour large-cap tech and payments names that may rebound as the sector’s rally continues.
The note listed a basket of “fallen angels” that combines established cloud and commerce companies with growth names, including Arista Networks, DoorDash, Synopsys, and the larger-cap names Amazon, Roblox, Visa and Mastercard.
Amazon has been in focus after reports that its cloud unit is weighing a multibillion-dollar investment in OpenAI tied to the use of Trainium chips. The move would expand Amazon Web Services’ role in AI infrastructure. (AI infrastructure: hardware and software that support training and deploying Artificial Intelligence models.)
Roblox has seen volatility after strong gains earlier in the year and subsequent concerns about user engagement. Analysts differ, with one firm downgrading the stock and another maintaining an overweight stance citing early data on a new age-verification system.
Payments firms Visa and Mastercard were highlighted as relative laggards despite ongoing network expansion. Visa recently enabled U.S. settlements using the USDC stablecoin (stablecoin: a cryptocurrency pegged to a fiat currency), and Mastercard has pursued partnerships to broaden merchant access to its rails. Holiday data from both firms pointed to resilient consumer spending led by electronics and online sales.
On Stocktwits, retail sentiment registered "bullish" for Amazon, "bearish" for Roblox, "neutral" for Visa, and "bearish" with high message volume for Mastercard. At the time of writing, shares were up about 0.3% for Amazon, and roughly 1.1%, 0.6% and 0.9% for Roblox, Visa and Mastercard, respectively.
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