Dan Niles, founder and senior portfolio manager of hedge fund The Satori Fund, said on Monday that US stocks could "get worse" again in early 2023 because of rising interest rates and weak demand.

Dan Niles said U. S. stocks will have a final rebound between now and Christmas, but companies will release unexpectedly negative news and trigger new selling pressure after Christmas. "We still believe that after the final step of this bear market rally, US stocks will be retested or even fall below new lows in 2023," he said. " Data display$S&P 500 index (.SPX.US)$It hit a 52-week low of 3491.58 in October.

According to Dan Niles, in early 2023, including$Amazon (AMZN.US)$、$Alphabet-C (GOOG.US)$、$Zoom Video Communications (ZM.US)$和$Microsoft (MSFT.US)$All enterprise software companies will be in trouble. He pointed out that during the epidemic, corporate customers needed software to improve telecommuting capabilities, but the current corporate demand for cloud computing resources has declined, resulting in reduced capital expenditure, which reduces the demand for software products.

Dan Niles believes that due to macroeconomic uncertainty, Amazon.Com Inc's cloud computing department AWS will further slow down in 2023. He expects AWS's revenue growth to slow to about 10 per cent next year, down from the 27 per cent reported in its third-quarter results. He believes companies are looking for reasons to cut spending on cloud computing, in part because of rising interest rates and fears of a recession. In addition, he will also$Salesforce (CRM.US)$Revenue growth is expected to fall to 7% from the previous 11%.