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The 'dramatically weakening dollar' a cushion for tech - Bernstein

January 24, 2023 2:24 PM EST

Bernstein analyst Toni Sacconaghi said in a note to clients that the "dramatically weakening dollar" is a "cushion for tech."

The analyst explained that in 2022, the US dollar strengthened materially, creating a "meaningful headwind to revenues for US-based tech (and non-tech) companies."

"However, since most companies reported earnings in... More