The stock holdings of Fidelity Investments, the nation's largest mutual-fund company, are closely watched by some Wall Street pros as a guide to where to invest. But Fidelity's guidance on tech stocks is becoming a jumble of divergent views.
Fund managers are all over the map on tech stocks, with some taking sharply different approaches.
The company disclosed new data on Apr. 17 on fund holdings indicating that some managers of Fidelity's big growth funds have turned deeply bearish on tech stocks. Most either trimmed or sharply reduced their tech holdings in February and March. Even so, a large number of Fidelity growth fund managers are still maintaining technology as their largest sector bet. Other large Fidelity funds maintained overweighted positions in tech. The Blue Chip Growth, Large Cap Stock, and Growth Company funds all remained tech believers, with tech their largest holdings.