The downturn in tech stocks Thursday and Friday may have been jarring, but the end effect was bringing overheated software and chip stocks back into line with the broader market.
By Friday’s close, gains in the Nasdaq were pared back to 7.7% from July 20, while the Dow was up 5.5%, and the S&P 500 was up 6.3%. Gains in tech were clearly driven by software sector as the iShares Expanded Tech-Software Sector ETF IGV, -2.94% rallied 17.1% from late July up to Wednesday, following strong earnings from companies like Salesforce.com Inc. CRM, -3.89% and Workday Inc. WDAY, -3.22%. Additionally, the First Trust Cloud Computing ETF SKYY, -2.70% gained 14.3% over that time.
Meanwhile, the ETFMG Prime Cyber Security ETF HACK, -2.57% rose on par with the S&P 500 with a 11% gain, following earnings from companies like CrowdStrike Holdings Inc. CRWD, -3.14% and Palo Alto Networks Inc. PANW, -2.70%
Don’t think so.
It’s a temporary recoil, but my charts show that the bulls will triumph again!
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La source: Forbes - 🏆 394. / 53 Lire la suite »
Elon Musk Down Nearly $10 Billion In One Week As Tech Stocks PlungeAmazon shares also fell late in the week. The upshot: Jeff Bezos is no longer a $200 billion man. Ebbs and flows, I’m sure he isn’t worried
La source: Forbes - 🏆 394. / 53 Lire la suite »
Elon Musk Down Nearly $10 Billion In One Week As Tech Stocks PlungeAmazon shares also fell late in the week. The upshot: Jeff Bezos is no longer a $200 billion man. And owners of his cars complain bitterly. lol. I'm surprised they don't report on stock price second by second. Overall Tesla is up like 10x compared to 2019 ...so ... try and say that's somehow bad ... 🤷♂️ Who cares about trumps racist flunky
La source: Forbes - 🏆 394. / 53 Lire la suite »
Elon Musk Down Nearly $10 Billion In One Week As Tech Stocks PlungeAmazon shares also fell late in the week. The upshot: Jeff Bezos is no longer a $200 billion man. Ebbs and flows, I’m sure he isn’t worried
La source: Forbes - 🏆 394. / 53 Lire la suite »
Elon Musk Down Nearly $10 Billion In One Week As Tech Stocks PlungeAmazon shares also fell late in the week. The upshot: Jeff Bezos is no longer a $200 billion man. The Market ≠ Personal wealth. He will bounce back!!! Paper losses. Not like he had all these pallets of hundos and was like shit... Where did I put those hundos.
La source: Forbes - 🏆 394. / 53 Lire la suite »