HSBC's Sels Rotates Away from Semiconductors into Applications and Cloud

Willem Sels, global chief investment officer at HSBC Private Bank, said the bank has reduced its semiconductor holdings and increased exposure to cloud and applications sectors. Sels told Bloomberg that the shift reflects how different parts of the technology stack are responding to semiconductor delays. The rotation was announced during an interview on Bloomberg's "The Opening Trade" program.

• Bloomberg — HSBC's Sels Rotates Away from Semiconductors into Applications and Cloud

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