Josh Brown revealed on CNBC s Fast Money Halftime Report he no longer owns Slack Technologies Inc (NYSE: WORK). He has been in a position for a while and it has been one of the worst-performing software names in the whole market. He sees the trade as a mistake, but he likes the. Read More.
March 9, 2021
“This Time is Different” is an infamous phrase in finance that has historically led to some spectacular results, both positively and negatively. Over the past ten years in the United States, the information technology sector (“TECH”) of the equity market has outperformed all other equity market sectors by a significant margin
[1].
For some investors, the valuation of the TECH sector today is reminiscent of the TECH sector of the late 1990s and are worried about history repeating itself. In contrast, other investors highlight that the TECH sector is more mature, with higher margins and more stability. In our opinion, today’s situation has aspects similar to the early 2000s, but today’s situation is different.
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According to a technology strategist at investment bank Baird, Ted Mortonson, the new tech dynamic is FOGK (fear of getting killed).
Tech stocks are under pressure due to recent rising yields. In the last five days, the Nasdaq Composite Index has declined nearly 5%. In the past year, tech stocks were triggered by FOMO (fear of missing out) during the unprecedented global pandemic. At the time, investors bid up tech stocks that saw growth in their revenues. During the worldwide lockdown, technology companies recorded increases, especially gain in the number of users. Some of the companies are software company Zoom Video Communications Inc. (NASDAQ: ZM), Snowflake Inc (NYSE: SNOW), DoorDash Inc (NYSE: DASH), and Airbnb Inc (NASDAQ: ABNB).
Hype and hope surrounding the emerging 5G market should spur a new round of iPhone growth for Apple Inc. (NASDAQ: AAPL), D.A. Davidson said Monday.
The Analyst
Tom Forte raised the target price from $300 to $375 and reiterated a Buy rating on Apple s stock.
The Thesis
Apple can exploit a multi-. Read More.