Luxury Stocks Decline on Growth Concerns, But Some Analysts Remain Bullish Long-Term
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Luxury stocks have declined recently due to concerns about slowing growth in China and rising interest rates impacting U.S. shoppers.
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Valuations for luxury stocks have come down but remain well above the broader market.
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Luxury spending in the U.S. and Europe has slowed based on credit card data.
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Some analysts remain optimistic about luxury stocks long-term despite the recent pullback.
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Investor sentiment has turned more cautious on luxury stocks as earnings growth is expected to slow.
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