Despite double-digit gains that raised the fund’s value to nearly $3 billion, the returns fell just short of the pension benchmark’s performance.
Brad Lander said a report by law firm Jenner & Block lacks rigor, expertise and worker input.
The iPhone maker has flat revenue at best, while the software titan enjoys major top-line growth.
The mega-cap tech giants appear invincible. But things always change in the market.
The top stocks will get company as the rest of the technology sector joins in amid AI mania, says Wedbush’s Ives.
Market-wide forces are impacting the high-flying shares, which have led the S&P 500 all year.
Historically, when the sector’s P/Es are this high, its market performance flags over the next 12 months, per Jack Ablin.
The iPhone maker faces hurdles, while its rival appears to have a smoother path.
Their stocks have been flat, like the rest of the market, but profit expectations are high for Q3.
The company’s key product, the latest version of which will be unveiled Tuesday, has boosted the stock in the past.
Technology leaders are off since mid-July, amid new investor wariness and concerns over their high valuations, the research firm contends.
Big tech mega caps skew the profits picture, and stripping them out makes the outlook flat.
The Magnificent Seven tech giants will continue to dominate the index, critics say.
The pension giant raked in $72 billion during the quarter thanks to its public equities portfolios.
Over the past three decades, reliance on a handful of big stocks (like we have now) does not end well, according to the CFRA strategist.