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Furthermore, the tech industry has become highly overcrowded, with many new companies venturing into the space to take advantage of its long-term growth prospects. With established companies dominating the industry, relatively smaller and fundamentally weak tech companies face cut-throat competition.
Given this backdrop, Infinera Corporation (INFN) and Latch, Inc. (LTCH) were recently downgraded by analysts. INFN was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from ‘neutral’ to ‘underweight,’ and LTCH was downgraded by Goldman Sachs Group Inc. (NYSE:GS) from ‘Buy’ to ‘Neutral.’ Therefore, we think these two stocks are best avoided now.
