BofA: Tech stock exposure hits six-year high
Bank of America's (BofA) October Global Fund Manager Survey revealed that investors' exposure to technology stocks has reached its highest level since August 2020.
The net percentage of fund managers overweight technology stocks rose from 30% in September to 37%. Driven by the artificial intelligence rally, global semiconductor stocks emerged as the most crowded trade among investors.
According to the survey, 45% of respondents believe an AI sector bubble could emerge in 2027, while 42% disagreed. Meanwhile, investor pessimism toward bonds fell to its lowest level since May 2025. Some 37% of respondents said they would consider shifting from equities to bonds if the yield on the 10-year US Treasury reached 6%.
BofA conducted the survey between October 2 and 8, gathering responses from 161 fund managers overseeing a combined $453 billion in assets.
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