Analyst Pin-board Tech stocks: where to?
The Nasdaq Index has rolled over (Figure 1).
The pandemic has been mostly positive for the tech industry. Amazon has thrived as consumers shifted towards . The company expanded total sales by 27% in the second quarter of 2021 to $113.5 billion, an incredible feat for such a large company. is starting to slow, although the delta variant surge may drive consumers away from stores once again.
Microsoft has also done well, buoyed by demand for collaboration software, devices, gaming, and cloud computing services as people spend more time at home. Sales of PCs have remained extremely strong, helping the company on multiple fronts. Microsoft’s revenue jumped 21% in its most recent quarter, and net income soared 47%. The upcoming launch of Windows 11 comes as PC sales remain elevated due to the pandemic.
However this tech ‘bubble’ since March 2020 (Figure 2) reminds us of 2000-02. It did not end well (Figure 3) as the Nasdaq Composite Index went down by 70% over a period of 16 months.
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