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BofA’s Rick Sherlund predicts software comeback
Technology

BofA’s Rick Sherlund predicts software comeback

Bank of America top banker Rick Sherlund sees a major market shift ahead.According to Sherlund, optimism surrounding technology stocks will make a comeback this year — but the key is to weather the upcoming earnings season first."What we need to do is de-risk 2023 numbers," the firm's vice chair of technology investment banking told CNBC's "Fast Money" on Thursday. "When we go through fourth quarter earnings, I think companies will indicate a reduction in force. They'll talk about cutting back on go-to-market spending... This is all encouraging."Sherlund's expertise is software. He hit No. 1 on Institutional Investor's all-star analyst list 17 times in a row when he was an analyst.And, he's known for leading Goldman Sachs' technology research team through the 2000 dot-com bubble, a time...