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Article: Deutsche Bank upgrades US and European tech sector, turns 'overweight' on software

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Deutsche Bank upgraded its rating for the US and European technology sector to "neutral" and specifically recommends an "overweight" position in software, believing the recent AI-driven selloff has ended. The bank cites resilient earnings and a lack of expected negative AI revenue impacts for major companies by 2026 as reasons for this shift.

Additionally, the bank identified investment opportunities in Germany's cyclical sectors, such as industrials and construction materials, which have recently declined despite ongoing government fiscal support.

The main topics covered are Deutsche Bank's upgraded outlook for the technology and software sectors, and its positive view on certain German cyclical industries.

Original URL

https://economictimes.indiatimes.com/tech/technology/deutsche-bank-upgrades-us-and-european-tech-sector-turns-overweight-on-software/articleshow/129404813.cms

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Tech-Economic Times

Published Date

2026-03-10 15:31

Fetched Date

2026-03-10 13:31

Processed Date

2026-03-10 13:31

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Deutsche Bank upgraded the US and European technology sector to "neutral" from "underweight" on Tuesday and turned "overweight" on software, saying the months-long rout âsparked â by fears â of AI-driven disruption has likely run its course.
The shift comes after a sharp global software selloff over the past six months that left valuations â at historically âthin premiums and fuelled concerns the industry â would struggle to outgrow the broader market.
Evidence now points the âother way, Deutsche Bank said, with earnings proving resilient and no major company expecting a negative revenue âimpact from AI in 2026.
The brokerage also highlighted opportunities in Germany's â cyclical sectors including industrials and construction materials, which have slid in recent days despite what it sees as intact support from Berlin's fiscal push.
The shift comes after a sharp global software selloff over the past six months that left valuations â at historically âthin premiums and fuelled concerns the industry â would struggle to outgrow the broader market.
Evidence now points the âother way, Deutsche Bank said, with earnings proving resilient and no major company expecting a negative revenue âimpact from AI in 2026.
The brokerage also highlighted opportunities in Germany's â cyclical sectors including industrials and construction materials, which have slid in recent days despite what it sees as intact support from Berlin's fiscal push.