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

AI Summary

HSBC Private Bank Global CIO Willem Sels says the firm has shifted investment positioning away from semiconductors and toward cloud and application companies. He cites delays and differing responses across the technology stack as reasons for the change.

On semiconductors, HSBC Private Bank's Global CIO Willem Sels says, "in terms of delays and in thinking about how different parts of the stack react to the delays, therefore do we change our positioning? And I think we do. We have done so: we are much more in the cloud and in the applications." He speaks to Bloomberg's Tom Mackenzie, Anna Edwards, and Guy Johnson on "The Opening Trade." (Source: Bloomberg)