The surging dollar has hurt stocks outside the U.S. but one group at least stands to gain: companies that export to the world¡¯s largest economy.
Those with significant dollar earnings are set for a windfall, with major beneficiaries including heavyweight Asian chipmakers and European industrial and pharmaceutical firms. Shares of exporters to the U.S. have already beaten a broad gauge of non-American companies this year, based on Goldman Sachs Group indexes.
¡°Exporters to the U.S. should benefit not only via currency translation, but also in terms of the trade advantage,¡± George Maris, chief investment officer for global equities at Principal Asset Management, said in an interview in London. ¡°They should be able to show significant margin improvements, whether they¡¯re European or Japanese or Chinese exporters.¡±
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