The brokerage believes the sector is bogged down by headwinds emerging from challenging macros basis the conflict in the Middle East, heightened competitive intensity fuelling AI deflation, shift of tech spends towards frontier AI and AI infrastructure companies, and insourcing in GCCs.
The brokerage believes the sector is bogged down by headwinds emerging from challenging macros basis the conflict in the Middle East, heightened competitive intensity fuelling AI deflation, shift of tech spends towards frontier AI and AI infrastructure companies, and insourcing in GCCs.
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