• Contact Us
  • Privacy & Policy
Friday, January 15, 2021
ModernCryptos
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
  • Blockchain
  • Regulation
  • Business
  • Market
No Result
View All Result
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
  • Blockchain
  • Regulation
  • Business
  • Market
No Result
View All Result
ModernCryptos
No Result
View All Result
Home Market

Think Tech Stocks Are In a Bubble? You Ain’t Seen Nothing Yet

July 13, 2020
in Market
3 min read
0
Think Tech Stocks Are In a Bubble? You Ain’t Seen Nothing Yet
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bill Gates Just Gave Boeing Stock The Green Light

Bill Gates Just Gave Boeing Stock The Green Light

December 4, 2020
Sony PS5 UK Launch Day Descends Into Utter Chaos

Sony PS5 UK Launch Day Descends Into Utter Chaos

December 3, 2020
  • Information technology stocks continue to set all-time highs.
  • The tech-laden Nasdaq Composite Index is up over 18% year-to-date. By comparison, the Dow Jones has declined over 8%.
  • Some analysts foresee another 12-to-18-month rally for technology stocks, which means new record highs are on the way.

Despite a deadly pandemic and Depression-era economic conditions, information technology stocks continue to set all-time highs. According to analysts, there’s little reason to believe the tech surge will slow down anytime soon. We may be in the early stages of another multi-year bubble.

Tech Stocks to Outperform

Technology’s leadership pace of the U.S. stock market will continue indefinitely, according to Brian Belski, chief investment strategy at BMO Capital Markets.

Speaking to The Wall Street Journal, Belski says technology companies will continue to outperform over the next 12 to 18 months. The software segment, which is led by companies like Microsoft (NASDAQ:MSFT) and Salesforce.com (NASDAQ:CRM), will be the biggest gainers.

In terms of how much growth is expected, Wedbush analyst Daniel Ives told clients to expect another 20% to 30% leg higher.

He adds:

While fears of a second wave and a soft macro will cause volatility over the coming months, especially with earnings season around the corner, we remain firmly bullish on tech for the rest of the year.

The Nasdaq Composite Index is coming off another record-setting week, climbing 4% over the five days. On Friday, the index broke above 10,600 for the first time, bringing its year-to-date return to a staggering 18.3%.

Tech stocks power the Nasdaq to a perfect V-shaped recovery – and multiple record highs in the process. | Chart: Yahoo Finance

By comparison, the Dow Jones Industrial Average has declined more than 8% in 2020, while the S&P 500 is off 1.4%.

The S&P 500’s information technology sector has surged 36.1% over the past 12 months, dwarfing all other major groups. The closely-related communication services segment is also up nearly 15% over the same period.

Information technology continues to do the heavy lifting. | Source: Fidelity

Earnings to Recover Faster Than Expected

Second-quarter earnings could be the rocket fuel that sends technology stocks and the broader market higher in the coming weeks. Earnings are now seen recovering much faster than early projections showed.

Wall Street analysts tend to underestimate quarterly earnings vastly. With the bar set so low, beating forecasts is expected.

Stronger than expected Q2 results will support equities for a while longer, strategist says:

Technology stocks that have thrived during the pandemic will likely have something positive to report. Brian Belski says tech-sector earnings are in line with levels seen before the 2009 bull market, which means further gains are likely.

Roughly a fifth of S&P 500 companies will report quarterly earnings this week.

Investors will also be keeping tabs on the latest economic data out of Washington. Reports on consumer prices, industrial production, housing starts, and initial jobless claims will be released. Non-governmental reports on consumer sentiment and housing market confidence are also scheduled for release.

Disclaimer: The opinions expressed in this article do not necessarily reflect the views of CCN.com and should not be considered investment or trading advice from CCN.com.

Last modified: July 13, 2020 3:01 PM UTC

Credit: Source link

Share76Tweet47

Related Posts

Bill Gates Just Gave Boeing Stock The Green Light

Bill Gates Just Gave Boeing Stock The Green Light

December 4, 2020
0

Boeing stock surged alongside its partner airlines on Thursday. Bill Gates’ comments on coronavirus vaccines should be a tremendous boost...

Sony PS5 UK Launch Day Descends Into Utter Chaos

Sony PS5 UK Launch Day Descends Into Utter Chaos

December 3, 2020
0

Sony’s PS5 launched in the UK today. Delivery woes, order confusion, and accusation of theft have resulted in a nothing...

If Tesla Was A Soufflé, It Would’ve Already Collapsed

If Tesla Was A Soufflé, It Would’ve Already Collapsed

December 3, 2020
0

Elon Musk has warned Tesla employees about risks to their stock price. Likening TSLA to a soufflé, Musk fears a...

Wall Street Prefers Tesla to Nearly Every Major Car Brand, Combined

Wall Street Prefers Tesla to Nearly Every Major Car Brand, Combined

November 25, 2020
0

Tesla stock is on another tear. Elon Musk’s juggernaut is now worth more than most of the world’s major car...

Can Taylor Swift Give Disney+ the Boost It Never Got From Hamilton?

Can Taylor Swift Give Disney+ the Boost It Never Got From Hamilton?

November 25, 2020
0

Taylor Swift just announced that she’s releasing a surprise concert on Disney Plus. It will be a performance of her...

Load More
  • Trending
  • Comments
  • Latest
Volcker Might Have Said Yes to a Digital Dollar – If He Knew What It Was

Volcker Might Have Said Yes to a Digital Dollar – If He Knew What It Was

December 12, 2019
Square Crypto Adds 3 New Members to Complete Inaugural Dev Team

Square Crypto Adds 3 New Members to Complete Inaugural Dev Team

September 20, 2019

70% Stock Market Plunge Could Be Brewing: Analyst

October 5, 2020
Ripple’s Brad Garlinghouse Hints Firm May Seek IPO Within 12 Months

Ripple’s Brad Garlinghouse Hints Firm May Seek IPO Within 12 Months

January 24, 2020
Ethereum Analyst Sees Record High This Week as Price Climbs 60%

Ethereum Analyst Sees Record High This Week as Price Climbs 60%

January 4, 2021
Best Tips On CryptoTrading And Mistakes To Avoid While Trading Cryptocurrencies

Best Tips On CryptoTrading And Mistakes To Avoid While Trading Cryptocurrencies

December 24, 2020
Analyst Expects Ethereum Correction as Key Indicator Peaks

Analyst Expects Ethereum Correction as Key Indicator Peaks

December 22, 2020
Bullish Argument for Ethereum Rapidly Losing Steam as $570 Is Lost

Bullish Argument for Ethereum Rapidly Losing Steam as $570 Is Lost

December 9, 2020
ModernCryptos

MdernCryptos.com is an online news portal which aims to provide latest crypto news direct from market with real time updates!

Topics to Cover

  • Bitcoin
  • Blockchain
  • Business
  • Crypto News
  • Ethereum
  • Market
  • Regulation

Whats New Here!

  • Ethereum Analyst Sees Record High This Week as Price Climbs 60%
  • Best Tips On CryptoTrading And Mistakes To Avoid While Trading Cryptocurrencies
  • Analyst Expects Ethereum Correction as Key Indicator Peaks

Subscribe to get more!

Simply subscribe to our newsletters and we will be in touch. Don't worry, we won't spam you
  • Contact Us
  • Privacy & Policy

© 2019 ModernCryptos.com - all rights reserved

No Result
View All Result
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
  • Blockchain
  • Regulation
  • Business
  • Market

© 2019 ModernCryptos.com - all rights reserved

  • bitcoinBitcoin(BTC)$13,064.880.65%
  • ethereumEthereum(ETH)$406.27-0.44%
  • tetherTether(USDT)$1.000.01%
  • rippleXRP(XRP)$0.2545180.61%
  • bitcoin-cashBitcoin Cash(BCH)$269.26-0.33%
  • Binance CoinBinance Coin(BNB)$30.841.81%
  • litecoinLitecoin(LTC)$58.161.61%
  • cardanoCardano(ADA)$0.105520-1.66%
  • eosEOS(EOS)$2.713.04%
  • moneroMonero(XMR)$137.143.72%
  • tronTRON(TRX)$0.0272551.31%
  • stellarStellar(XLM)$0.083631-0.21%
  • tezosTezos(XTZ)$2.15-2.08%
  • CosmosCosmos(ATOM)$5.28-3.93%
  • LEO TokenLEO Token(LEO)$1.261.17%
  • iotaIOTA(MIOTA)$0.279914-0.06%
  • dashDash(DASH)$72.30-1.09%