Should I still invest in Tech?
Are tech stocks still the darlings of the stock market?
I remember dreaming of how much I would make if I invested in $Alphabet(GOOGL)$
Today, Google or Alphabet is at $97 (after split) from highs of $151 while Amazon is at $93 from highs of $181 in the first quarter of the year. Despite the heralded potential for growth and strong earnings (even though they did not meet estimates), the market lost faith in them after 2 years of surging growth. Be it the end of the pandemic, the start of war or the advent of inflation, buying them now is akin to buying more uncertainty. I remember being so frustrated with Google, I sold off all my shares and bought Grab instead. It was the right decision and it taught me a lesson. When you buy that stock at its current evaluation, you expect growth and that's how the stock price will rise. Of course you can buy it for cheap (meaning below evaluation) but back then, the market was wrong (so was I). The respective tech companies could not grow more in its current climate. $Grab Holdings(GRAB)$
My thoughts for the new year is: I think it's going to be a bad year for tech stocks with the pandemic now easing. I don't see how they can grow much with the rising cost of resources or if their innovations can outrun the rising costs.
But then again, you never know. With the metaverse as the next frontier of innovation, it may just tip the scales and make tech popular again.
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