Small Caps Set For A Comeback? Here's Why They Deserve Your Attention
Small Caps Set For A Comeback? Here's Why They Deserve Your Attention
After a relentless battering of tech stocks, the tides might be turning in favor of small caps.
在科技股持續下跌的情況下，小盤股可能會迎來好轉。
Andrew Graham, founder and managing partner of Jackson Square Capital, suggests that a shift out of Big Tech and into smaller firms could be more than just a fleeting trend.
傑克遜廣場資本創始人兼管理合夥人安德魯·格雷厄姆指出，從大公司轉向小型公司的轉變可能不只是一時的趨勢。
For a while now, the market has been awaiting a soft landing scenario where economic stability paves the way for rate cuts, and small caps come into their own.
市場已經等待着一個經濟穩定鋪平道路減息的軟着陸情形，小盤股進入自己的舞臺。
The Nasdaq, which hit an all-time high on July 10 when markets closed, has since faltered, nudging the Russell 2000 into the spotlight. This small-cap index, despite recent turbulence, shows promise for those looking to capitalize on a broader market rotation.
納斯達克指數曾於7月10日收盤時達到歷史最高水平，但此後有所下跌，使羅素2000指數成爲焦點。儘管出現了最近的動盪，但這個小盤股指數爲那些希望從更廣泛的市場輪換中獲利的人提供了希望。
September Rate Cut Could Boost Small Caps
9月份減息可能會提振小盤股。
Graham notes that a potential Federal Reserve rate cut, with futures markets almost certain of a September decrease, could provide the necessary boost for small caps. This expected cut could kick-start a cyclical recovery, benefitting companies that have lagged behind the tech giants.
格雷厄姆指出，預計聯邦儲備委員會會減息。此次預計的減息可能會啓動一個週期性復甦，從而使那些落後於科技巨頭的公司受益。
Yet, the rebound hinges on continued economic growth — something still in flux. July's labor market data raised some eyebrows, but Graham points out that the jobs report wasn't as dire as it appeared, suggesting that a recession might not be imminent.
然而，復甦仍取決於持續的經濟增長，這仍然存在不確定性。7月份的勞動力市場數據引起了一些人的關注，但格雷厄姆指出，就業報告並沒有像它表現得那樣可怕，這表明經濟並不會立即陷入衰退。
Where Small Cap Investors Could Find Value?
哪些小盤股投資人可能會找到價值？
Investors could find value in small-cap ETFs like the iShares Russell 2000 ETF (NYSE:IWM), says Graham, which offers a broad, diversified approach to small-cap stocks.
格雷厄姆表示，投資人可以在iShares 匯豐中小型股票ETF (NYSE：IWM)之類的小盤股ETF中找到價值，iShares 匯豐中小型股票ETF爲小盤股提供了廣泛、多元化的投資方式。
For those willing to dig deeper, midcap stocks like Fabrinet (NYSE:FN), which benefits from the growing demand for data center components, could be worth considering according to Graham.
對於那些願意深入挖掘的人來說，像法布里奈特(NYSE:FN)這樣從不斷增長的數據中心元件需求中受益的中盤股也值得考慮。
Silicon Laboratories Inc (NASDAQ:SLAB) and Synaptics Inc (NASDAQ:SYNA) are also on Graham's radar for their specialized semiconductors, while Monday.com Ltd (NASDAQ:MNDY) stands out for providing cost-effective alternatives to pricier business tools.
格雷厄姆還列舉了一些他關注的公司，例如專業的半導體公司Silicon Laboratories Inc (NASDAQ:SLAB)和Synaptics Inc (NASDAQ:SYNA)，以及提供價格優惠的商務工具替代方案的Monday.com Ltd (NASDAQ:MNDY)。
What Copper Prices Tell Us?
銅價給我們帶來了什麼啓示？
Graham warns the copper market's recent slump might signal caution. Historically, rising copper prices have indicated strong cyclical rallies, but the current downturn could temper expectations.
格雷厄姆警告說，銅市的近期下滑可能表明需要注意。從歷史上看，銅價上漲表明着強勁的週期性漲勢，但目前的下跌可能會抑制這種預期。
Overall, if policymakers navigate the economic landscape adeptly, reducing inflation without triggering a recession, small and midcap stocks could indeed experience a meaningful resurgence. As the market adjusts, keeping a close watch on these segments might just pay off.
總的來說，如果決策者能夠熟練地應對經濟形勢，在不引發經濟衰退的情況下，小型和中型股票確實可能會經歷有意義的復甦。在市場調整的同時，密切關注這些板塊可能會帶來好處。
譯文內容由第三人軟體翻譯。