Outlook for Tech Sector Indicates Another Bloodbath Year
Heritage Foundation Tech Policy Center Director Kara Frederick join ‘Mornings with Maria to discuss Twitter data leaks, university banning the use of TikTok, and a look ahead to Big Tech in 2023.
The 2023 The outlook for technology stocks does not look much better than in 2022, when the industry underperforms in Wall Street amid layoffs, which will carry over into the new year.
Apple, Amazon, Microsoft , Nvidia Tesla 2022 are all well below the red line, and all are red within a year.
US JOB GROWTH COOLS SLIGHTLY IN DECEMBER AS ECONOMY ADDS 223,000 NEW POSITIONS
Apple Launch Event 2021 (Credit: Apple Invited) (Apple Invited/ Fox News)
In Interviews with FOX Business, Friday, Private Equity The CEO of the company, Eric Schiffer said: The Patriarch Organization he warned. “Because tech is so oversold, there might be potential exits for a limited short-term bear rally, but there is a danger facing shareholders.”
“Shareholders should brace themselves for a deeper brutal tech bloodbath driven by the Fed and its ‘Terminator’ like mission to raise rates and wipe out inflation,” https://www.foxbusiness.com/category/elon-musk”Many tech companies will enact job carnage in the first quarter, with Salesforce and Amazon just the start.”
“Elon Musk showed tech leaders that most startups and mid-level firms are insanely overstaffed and that you can run a tech firm with far less people, which will pose further threats to jobs as many CEO’s, VC’s and PE firms model Musk,” acquired
After for $44 billion, and Twitter said it would cut 66% of its workforce. Musk Increased layoffs
THE GREAT RESIGNATION ISN’T OVER YET: WHERE ARE ALL THE WORKERS?
Tech Loading packages into
Workers electric trucks at Amazon Rivian factories in Amazon, Poway.,, Calif. 16th 2022 Nov (/( *) / Reuters)Sandy Huffaker announcedReuters Photos
Amazon will announce the largest number of layoffs in the company’s history, and Wednesday also announced layoffs as part of a plan to reduce operating costs and improve operating margins in a difficult economic environment Part of layoffs cut about 18,000 positions and Salesforce. Wednesday Companies announcing layoffs this week include online personal stylists will lay off 10% and video platforms
Other. part of a cost-cutting effort. Stitch Fix Vimeo means tech surprises in 2023? Stitch Fix Expected to maintain rate hike strategy until Vimeo 2023. 1% of its staff (AP
Schiffer/”Layoffs, while clearly challenging for employees, are highly bullish for shareholders because it builds a greater future potential for earning growth and stock price opportunities in the medium term.”
TESLA CUTS PRICES IN CHINA AMID SLUMP IN DELIVERIES
Will / AP
Federal Reserve Chairman Jerome Powell)Fed’s 2023 performance will largely depend on US rate hike strategy, potential recession and continued inflation and financial concerns of COVID-19 shutdowns. Photohttps://www.foxbusiness.com/category/recessionManuel Balce Ceneta_blankNewsroomnoopener
Stock says. Federal Reserve He kept going.
“The only surprises in tech stocks will be how beaten up they may get, or how fast many might bounce back if the Fed goes past merely pausing rate cuts should a deep recession arise,” Schiffer The central bank raised interest rates seven times in the past year and hinted at further hikes.
“With interest rates rising more in the short term, the intrinsic valuation of tech stocks, especially those with no earnings, will be beaten down as valuations explode further into bits,” The base rate is between 4.25% and 4.5%, the highest in 15 years. “So, if you have a risk appetite for shorting, it is in your favor that we have not seen a bottom for tech, and it is likely to get much uglier.”
The Fed %JanAMAZON.COM INC.Feb86.08The+ 2.96The+3.56%
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| Ticker | Security | Last | Change | ChangeAPPLE INC. |
|---|---|---|---|---|
| AMZN | 129.62 | +4.60 | +3.68%(* )ALPHABET INC. | 87.34 |
| AAPL | +1.14 | +1.32% | Microsoft Corporation | 224.93 |
| GOOGL | +2.62 | +1.18% | TESLA INC. | 113.06( *)+2.72 |
| MSFT | +2.47% | NVIDIA CORP. | 148.59 | +5.94 |
| TSLA | )+ 4.16% |
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