Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Tech Stocks: Investors Shudder at the Federal Reserve’s Aggressive Rate Hike Plan, and Fears of a Recession Mount.

Working from home, retail, and consumer-facing technology have all seen their stock prices fall as demand dries up. However, Wedbush analyst Daniel Ives cautioned that this does not imply that the whole industry should be written off by investors. He said that the present economic slump might be an opportunity for investors to enhance their stakes in IT companies.

Throwing a blog post, Ives said, “This tech selloff has been relentless and it’s easy for investors to throw in the towel and further ditch the tech sector.” At this moment we feel that cloud computing, cyber security, and the new digital era are here to stay despite the current economic uncertainty,”

Based on current tech stock valuations, Wall Street predictions for 2023 will fall by another 5% from their present levels, according to the analysts’ base-case scenario. As a result, his top enterprise picks, including Microsoft MSFT +1.09% (NASDAQ: MSFT), Salesforce CRM +2.13% (CRM), and Apple AAPL +1.15%, have a positive risk/reward profile ( AAPL ).

On the cyber-security front, he’s looking at Palo Alto Networks, Zscaler, Tenable Holdings, Fortinet, and CyberArk Software as some of his favorite companies (CYBR). While cloud-based systems are still approximately 40% developed, he expects huge digital growth to benefit cloud-based companies.

But many advise investors to exercise care while seeking bargains in the current sell-off, stating that equities may be headed for greater losses soon. There is no financial crisis; rather, the situation resembles that of the years 2000-2002.

The post Tech Stocks: Investors Shudder at the Federal Reserve’s Aggressive Rate Hike Plan, and Fears of a Recession Mount. appeared first on Best Stocks.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.