Hello and happy Monday! I hope you all had a wonderful and enjoyable holiday weekend. In today’s column, I’d like to reflect on the awesome strength of the technology industry, and its unique ability to drive markets and truly enable global economic growth.
I think that most of us are old enough to remember when traditional companies like General Motors, Kellogg’s and U.S. Steel drove markets. Times haver certainly changed, and today’s markets are much more likely to be influenced by the fortunes of tech companies such as Apple, Microsoft, Amazon, Meta (Facebook), Netflix, Tesla and Zoom.
Frankly, I’m delighted that tech stocks are leading the markets. Despite recent selloffs, tech remains a sweet spot for investors.
“Certain areas of the semiconductor market ballooned this year, as demand soared for processors that could speed crypto mining, aid game development and connect more devices to the internet,” writes Ari Levy of CNBC. “Fintech, cloud software and cybersecurity had their share of standouts as well, even if buying baskets of those stocks and holding them for the year would not have been a particularly lucrative investment.”
I agree with Ari’s overall assessment of the situation. Sure, you have to be careful. Not every tech investment you make will pan out. But as an industry, we’re still a prime mover of markets. And I don’t see that changing anytime soon.
Here’s something else I predict will remain constant: HMG Strategy’s ability to provide world-class insight and leadership based on our unique peer-to-peer research model. In volatile times like these, you certainly don’t need old-fashioned analyst-led research reports that were written by people with little first-hand knowledge of the current challenges facing CIOs, CISOs and technology leaders.
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