An employee passes the Google logo.
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Democrats and Republicans don’t agree on much these days, but their mutual distrust of big tech stocks poses an underappreciated threat to companies like Google and Facebook, according to Goldman Sachs.
And while the Department of Justice and the Federal Trade Commission already announced investigations into some of Wall Street’s biggest tech companies, the regulatory pressure is likely to only get worse, Goldman chief equity strategist David Kostin wrote Friday.
He downgraded the communications sector to neutral from buy and argued that the group could be set for lackluster performance over the next several months.