Tech stocks have been on the up this year; the Nasdaq Composite is the best-performing Wall Street index, up around 11% since the start of 2023. But tech investor Mark Hawtin believes the sector's resurgence is nothing more than just another bear market rally. "The unexpected trajectory of inflation really drove concern, and that hits long-duration stocks most. And in some cases, very good companies fell 70 or 80%.
" Earlier this month, Meta reported a third straight quarter of declining sales , with ad revenue, which accounts for nearly 97% of total revenue, falling to $31.2 billion in the fourth- quarter from $32.6 billion a year before. It was a similar story at Alphabet , which reported $59 billion in advertising revenue for the fourth quarter, a decrease of 3.6% from the same period in 2021.
Interesting
Agreed
$JEPQ is all they need to invest in!
Hedge funds that got their butts handed to them in that historic short squeeze are just trying to scare investors. They’re in denial that the market bottomed a long time ago.
Tech bottomed in October last year.
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