Tech if Iran risk fades — Three Independent Lenses
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1. Valuation reset
Tech is now ~20.6x vs S&P 500 ~19.6x 12mth fwd EPS
Less than 1 turn premium (last happened in 2020)
But 12mth fwd earnings growth more than double at ~49% vs 21%.
You’re not paying for growth - Tech is priced like a cyclical.
2. Macro positioning: cleanest beneficiary
Using Quant Insight’s macro risk model, we built an “Iran Dissipation Score”, ranking exposures based on the below:
Continue reading our analysis by downloading the PDF above
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