Despite growing concerns about a record number of new U.S. coronavirus cases, the stock market has largely held steady thanks to surging shares of big tech companies—though that’s resulting in a very imbalanced market, experts warn.
Shares of big tech companies such as Amazon, Microsoft, Apple, Netflix and Google-parent Alphabet have all led the market higher in recent weeks thanks to the fact they’ve been doing relatively well amid the coronavirus pandemic, with earnings holding up much better than most other industries. Beyond sporting “ultra-solid balance sheets,” super-cap tech companies have also been able to more quickly adapt to the pandemic by instituting “virtual” models and shifting employees to remote working, Crisafulli says.so far this year and rising to a new record high of more than $1,500 per share.when it met with civil rights groups earlier this week, but investors didn’t seem to care: The stock continued to trade well as investors remain obsessed with tech stocks.
“A huge rotation is underway as investors shift into super-cap tech and shun those groups most sensitive to underlying economic fundamentals ,” Crisafulli says.“Trying to argue things like ‘fundamentals’ or ‘valuation’ with the types of investors bidding up AAPL, AMZN, MSFT, etc., several percent every session is a waste – those quaint notions just aren’t entering into the conversation right now,” says Crisafulli.
Short the banks next week.
FAANG love it
As we've gone on there's been more and more internet traffic focused through particular nodes such as Google or Facebook. [...] Centralised services that hold all the user data and host it themselves have become increasingly popular because that business model has worked..
Cheedy10
FAPPING!
FAONG?!
👍
Fapping?
What you're seeing is modernization. These tech stocks deserve to soar. The internet is a remarkable phenomena for commerce and also for human democracy and civilization. The economy is not going to be what it was before but what it reemerges as
Is the acronym for this clutch of tech stocks: 'FAPPING?'
They're always soaring. EndQualifiedImmunity
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Source: CNBC - 🏆 12. / 72 Read more »