The valuations of American technology firms have risen to their highest level since the dot-com bubble in the late 1990s, driven by investor interest in artificial intelligence (AI) technologies, warned wealth management firm Bernstein. The stock prices of tech companies rose by 38 percent in the first half of 2023, which is the best performance…
US Tech Stock Valuations Highest Since 1990s’ Dot-Com Bubble: Bernstein
AI Stocks Prevented S&P 500 Being in the Red: SocGen Analyst
The hype over artificial intelligence has resulted in a positive performance in the U.S. stock market this year, says a Societe Generale analyst. “The AI boom and hype is strong,” London-based Manish Kabra, a strategist at the financial services company, said in a note on Friday, according to Bloomberg. “So strong that without the AI-popular stocks, S&P…
Is the Party Over for Tech Stocks?
Commentary At the annual Boys’ Club of New York luncheon on April 4, a 16-year-old guest asked hedge fund manager Chase Coleman what stock he should buy. It was an innocuous and softball question. Buy the FAANGs, Coleman said, referring to the acronym of several mega-cap technology stocks including Apple, Alphabet, and Meta Platforms. Wait,…
NTD Business (Dec. 29): Virgin Islands Sues JPMorgan for Epstein Ties; Musk: Follow and Question the Science
The U.S. Virgin Islands is suing JPMorgan. It alleges that JPMorgan did business with Jeffrey Epstein for over a decade, while fully knowing all about his sex-trafficking operations. Elon Musk Musk says healthy questioning is a part of science, and he announced a new policy at Twitter to support that. Amazon’s value shrank by 50% this year. It lost hundreds…
NTD Business (Dec. 27): DOT to Probe Southwest Airlines’ Performance; Russia Bans Oil Exports to Entire EU and More
Southwest Airlines is facing a Department of Transportation (DOT) probe over its massive flight delays and cancellations. What’s causing the meltdown? We ask an aviation expert. In the latest spending bill, $16 billion in taxpayer money will be spent on lawmakers’ pet projects. We take a close look at where the money is going. Japan…
Slump in Tech Stocks Helps Send Wall Street to Another Loss
Wall Street ended a wobbly day of trading with more losses Wednesday, as a slide in technology companies helped pull stocks lower and Treasury yields fell broadly. The S&P 500 slipped 0.2 percent, its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks, fell 0.5 percent, while the Dow Jones Industrial…
Has the Big Tech Bubble Burst?
October 31, 2022
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AnalysisBig TechBusiness & MarketsBusiness Columnistsfinancial marketsOpinionrecessionstock markettech stocksU.S. economy
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Commentary The extraordinary gains on Wall Street from Oct. 28 were stunning, but it’s the details that matter. What didn’t participate in the sudden exuberance were the tech stocks that have performed so well over the past three years and even dating back to 2009. The enthusiasm was all about value stocks, those old-fashioned companies…
Tech Stocks Lead Wall Street Lower, Breaking Winning Streak
Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week. The S&P 500 closed 1.3 percent lower, breaking a four-week winning streak. Shares in more than 80 percent of the companies in the benchmark index fell, with technology stocks…
Japan Tech Giant SoftBank Posts $23 Billion Quarterly Loss
TOKYO—Japanese technology company SoftBank Group posted a $23.4 billion loss in the April–June quarter as the value of its investments sank amid global worries about inflation and interest rates. SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter a year earlier. Quarterly sales…
Meta Downsizing Hiring Plans Amid Warnings of Layoffs
July 2, 2022
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Business & MarketsCompanieseconomylayoff staffMark ZuckerbergMedia & Big TechMeta Platforms IncTechTech Newstech stocksUS
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Meta, the owner of Facebook, is planning to scale down its hiring activities, CEO Mark Zuckerberg revealed on June 30 while also indicating that some workers will lose their jobs. Speaking during a weekly employee Q&A session, Zuckerberg expressed worries about the state of the economy, warning workers to brace for a deep economic downturn….
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