JPMorgan Chase & Co's analysts put the technology giant$Apple Inc (AAPL.US) $And$Qualcomm Inc (QCOM.US) $Removed from its watch list, the bank said investors appeared to be focusing on issues related to consumer electronics as consumer spending was likely to fall.

Nicholas Rosato, an analyst at the bank, pointed out that the shift from value stocks to growth stocks is a sign of recession, which "drives investors to favor high-quality and growth stocks, even if they have high price-to-earnings ratios".

The Rosato said there was "a lot of controversy" over technology spending, but as concerns about the global economy began to shift to the sector, this could affect some end markets and then business and business spending.

"in this regard, we believe that our short-term bullish sentiment on Apple Inc and Qualcomm Inc shares may ease as the extent of consumer spending cuts becomes clearer," the analyst said. "

Instead, JPMorgan Chase & Co will$Arista Networks (ANET.US) $And$Ciena (CIEN.US) $It is on the analyst watch list because the bank expects "telecom customers to spend on their networks and cloud computing companies to spend on building infrastructure to support the migration of workloads to cloud computing." "