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Hunter Muller Predicts: Pfizer Vaccine Success Will Help Propel Global Market Advances
After the tumult and turbulence of the past six months, it’s great to see a wave of genuine optimism sweeping over the markets. Today’s gains also highlight the undeniable impact of technology on our globally interconnected economy.
Technology firms have consistently led the broader economy and empowered financial markets all over the world. I predict this strong leadership will continue for the foreseeable future.
I am not alone in this judgement. “Tech stocks have become the ultimate haven,” writes Alex Eule in Barron’s. “Tech has become all things to all investors. Who needs small-caps and start-ups when Microsoft can grow earnings 20%? Who needs consumer staples when Facebook is used every day by 1.8 billion people?”
I urge you to read Alex’s excellent article. It hits the nail on the head, and supports my longstanding belief that now is absolutely the best time to be a technology leader. Many of the trends we are witnessing today were in motion before the pandemic. But the impact of Covid-19 has been inescapable and widespread.
“Netflix was already replacing television before Covid-19. Now it’s replacing movie theaters. Zoom Video Communications calls were already replacing business meetings. Now they’re replacing business travel. Uber Technologies’ Uber Eats was already replacing home-cooked meals. Now it’s replacing restaurants. And the list goes on,” Alex writes.
The pandemic has indisputably proven the overarching value of technology, especially in difficult times. I’m old enough to remember clearly when tech was considered a niche player. Those days are over, and we’re standing on the cusp of a new and exciting era of innovation, reinvention, disruption and growth.
I predict that tech’s dominance as a market mover and leader will continue long after the pandemic has faded away. As you all know, I am an incurable optimist, and I am especially bullish on technology.
As technology leaders, we have enormous responsibilities. We face incredible challenges and amazing opportunities. That said, we have the experience, the knowledge and the energy to make a difference. We do matter.