After trouncing all other sectors in 2020, tech stocks in the S&P 500 Index have drifted toward the back of the pack this year, out-performed by sectors like financials and industrials perceived to have better growth prospects.
A rally in the past two weeks has returned the tech-heavy Nasdaq 100 Index to a record this month after rising interest rates and concerns the stocks were too expensive sent the benchmark down 11% in early March.
As is usually the case, the tech group is expected to post strong growth in sales and earnings.
In terms of profit expansion, tech looks even less appealing with estimates for 2021 at 22% — an impressive performance, to be sure, but one that would lag behind financials, industrials, consumer discretionary and materials.
For the bears, even beating those growth projections isn’t enough to support valuations that are the highest in years.
that are poised to capture even more spending from companies investing in digital services, according to Daniel Ives, an analyst with Wedbush Securities Inc.
Some of the most-expensive software companies, in particular, have taken a beating so far this year.
India’s sugar consumption during the peak demand season is set to fall for a second straight year after various states imposed restrictions including restaurant and shop closures to halt rising cases of COVID-19, industry officials told Reuters.
A stalker who claims pop star Taylor Swift is communicating with him on social media was arrested on a trespassing charge after trying to break into the singer’s Manhattan apartment, police said Monday.
Britain stepped up efforts on Monday to look at the case for a digital pound in response to the challenge posed by cryptocurencies such as bitcoin, and outlined plans to make its financial market more attractive after Brexit.
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Translation tools from Alphabet Inc’s Google and other companies could be contributing to significant misunderstanding of legal terms with conflicting meanings such as “enjoin,” according to research due to be presented at an academic workshop on Monday.
The deal, which was announced in September, puts a vital supplier to multiple silicon chip makers under the control of a single player, generating pushback from regulators and rivals to Nvidia, the biggest U.S.
Four drugmakers are set to face trial on Monday in a lawsuit by several large counties in California that are seeking more than $50 billion over claims the companies helped fuel an opioid epidemic by deceptively marketing addictive painkillers.
But the city is facing shortages of oxygen and some medicine, according to Chief Minister Arvind Kejriwal, who told reporters that the new stringent measures being imposed were required to “prevent a collapse of the health system,” which had “reached its limit.” Just months after India thought it had seen the worst of the pandemic, the virus is now spreading at a rate faster than at any other time, said Bhramar Mukherjee, a biostatistician at the University of Michigan who has been tracking infections in India.
Brazil’s economic activity surged in February, a central bank index showed on Monday, one of the strongest gains on record and a sign that the economy had been humming along nicely before it was hit by a deadly second wave of the COVID-19 pandemic.
Asia-Pacific Fetal and Neonatal Care Equipment Market are expected to register a 9.
Tencent, China’s biggest social media and video games company, said its investment would fund initiatives in areas including basic science, education innovation, rural revitalisation, carbon neutrality, food, energy, and water provision, assistance with public emergencies, technology for senior citizens and public welfare.
banks have started deploying camera software that can analyze customer preferences, monitor workers and spot people sleeping near ATMs, even as they remain wary about possible backlash over increased surveillance, more than a dozen banking and technology sources told Reuters.