Demand for consumer electronics and related products and services has caused tech stocks to far outperform every other market segment. Although driven in large part by stocks like Amazon.com and Nvidia, which gained over 2,300% and 5,600%, respectively, during that period, tech stocks lost their momentum last November. As investors transitioned to more defensive consumer staples due to rising interest rates, rampant inflation, and a stagnating economy -- which has made a recession seem more likely -- many previously high-flying names tumbled from their highs. Read More...
Demand for consumer electronics and related products and services has caused tech stocks to far outperform every other market segment. Although driven in large part by stocks like Amazon.com and Nvidia, which gained over 2,300% and 5,600%, respectively, during that period, tech stocks lost their momentum last November. As investors transitioned to more defensive consumer staples due to rising interest rates, rampant inflation, and a stagnating economy — which has made a recession seem more likely — many previously high-flying names tumbled from their highs.
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