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2021-03-01

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Tech is teetering as rates get high and expectations get higher: Sector Watch

The Information Technology (NYSEARCA:XLK) sector is coming under pressure from the latest rise in yi

Tech is teetering as rates get high and expectations get higher: Sector Watch

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It is now just 3.69% above its 100-day SMA of $126.04. That’s another level that it’s been comfortably above since the November swoon.</p><p>The sector's problems are a mix of the phenomenon ofrising yields being toxic to high-growth stocksand continued disappointment of very high expectations.</p><p>Apple&nbsp;(NASDAQ:AAPL), the biggest influencer of XLK and the S&amp;P(NYSEARCA:SPY)as a whole, is among those most vulnerable to the effect of rising rates on discounted future earnings.</p><p>The company has been taking advantage of recent record-low rates to issue debt and its buybacks were praised over the weekend by Warren Buffett.</p><p>Bufftett said the increase in Berkshire Hathaway’s(NYSE:BRK.A)(NYSE:BRK.B)stake in Apple “was costless to us, coming about because Apple has continuously repurchased its shares, therebysubstantially shrinking the number it now has outstanding.\"</p><p>But the stock has struggled this year after the its status as a new defensive has left it out of favor compared with recovery and reflation plays.</p><p>It’s the worst performer of the megacaps this year, down 8.6%.</p><p>AAPL fell below its 100-day SMA this past week, a level it’s held abovesince the pandemic recovery in late April.</p><p>Cathie Wood’s ARK Investment Management sold shares of Apple on Friday. It shed 460K shares from the ARK Next Generation Internet ETF(NYSEARCA:ARKW)and 91K shares from the ARK Autonomous Technology and Robotics ETF(BATS:ARKQ).</p><p><a href=\"https://laohu8.com/S/CRM\">Salesforce</a>.com(NYSE:CRM)turned negative for the first time this week after its earnings report. While the top and bottom lines topped forecasts, and even first-quarter guidance was above consensus, a full-year profit guidance miss hit the stock hard.</p><p>Shares dropped 6.3% and it fell below its200-day SMA for the first time since May.</p><p>$AMD(<a href=\"https://laohu8.com/S/AMD\">AMD</a>)$(NASDAQ:AMD)is off nearly 8% this year.</p><p>The company will hold an event to introduce the newest addition to the Radeon RX family of high-performance graphic cards on Wednesday at 11 a.m. ET,according to Seeking Alpha’s Catalyst Watch.</p><p>The new model is expected to be the Radeon RX 6700 XT, aimed to compete with Nvidia's(NASDAQ:NVDA)mid-range Ampere-based graphics cards.</p><p>AMD fell below its100-day SMA at the start of last week.</p><p>This week Seeking Alpha contributor Bluesea Research laid out its case about how muchApple is struggling with its streaming business.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech is teetering as rates get high and expectations get higher: Sector Watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-01 15:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3667410-itech-is-teetering-as-rates-get-high><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Information Technology (NYSEARCA:XLK) sector is coming under pressure from the latest rise in yields, as stocks that rallied duringthe pandemic recovery come under the valuation microscope.XLK ...</p>\n\n<a href=\"https://seekingalpha.com/news/3667410-itech-is-teetering-as-rates-get-high\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","AMD":"美国超微公司","XLK":"高科技指数ETF-SPDR","CRM":"赛富时"},"source_url":"https://seekingalpha.com/news/3667410-itech-is-teetering-as-rates-get-high","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1194124789","content_text":"The Information Technology (NYSEARCA:XLK) sector is coming under pressure from the latest rise in yields, as stocks that rallied duringthe pandemic recovery come under the valuation microscope.XLK dipped into negative territory for the year last week, but Friday’s rebound brought it up back up to a 0.52% gain for 2021.The ETF, which has the highest weighting of the S&P at mor than 27%, is facing a technical test.It fell below its 50-day simple moving average for thefirst time this week since November. It is now just 3.69% above its 100-day SMA of $126.04. That’s another level that it’s been comfortably above since the November swoon.The sector's problems are a mix of the phenomenon ofrising yields being toxic to high-growth stocksand continued disappointment of very high expectations.Apple (NASDAQ:AAPL), the biggest influencer of XLK and the S&P(NYSEARCA:SPY)as a whole, is among those most vulnerable to the effect of rising rates on discounted future earnings.The company has been taking advantage of recent record-low rates to issue debt and its buybacks were praised over the weekend by Warren Buffett.Bufftett said the increase in Berkshire Hathaway’s(NYSE:BRK.A)(NYSE:BRK.B)stake in Apple “was costless to us, coming about because Apple has continuously repurchased its shares, therebysubstantially shrinking the number it now has outstanding.\"But the stock has struggled this year after the its status as a new defensive has left it out of favor compared with recovery and reflation plays.It’s the worst performer of the megacaps this year, down 8.6%.AAPL fell below its 100-day SMA this past week, a level it’s held abovesince the pandemic recovery in late April.Cathie Wood’s ARK Investment Management sold shares of Apple on Friday. It shed 460K shares from the ARK Next Generation Internet ETF(NYSEARCA:ARKW)and 91K shares from the ARK Autonomous Technology and Robotics ETF(BATS:ARKQ).Salesforce.com(NYSE:CRM)turned negative for the first time this week after its earnings report. While the top and bottom lines topped forecasts, and even first-quarter guidance was above consensus, a full-year profit guidance miss hit the stock hard.Shares dropped 6.3% and it fell below its200-day SMA for the first time since May.$AMD(AMD)$(NASDAQ:AMD)is off nearly 8% this year.The company will hold an event to introduce the newest addition to the Radeon RX family of high-performance graphic cards on Wednesday at 11 a.m. ET,according to Seeking Alpha’s Catalyst Watch.The new model is expected to be the Radeon RX 6700 XT, aimed to compete with Nvidia's(NASDAQ:NVDA)mid-range Ampere-based graphics cards.AMD fell below its100-day SMA at the start of last week.This week Seeking Alpha contributor Bluesea Research laid out its case about how muchApple is struggling with its streaming business.","news_type":1},"isVote":1,"tweetType":1,"viewCount":621,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}