Amazon benefited from booming e-commerce sales as shoppers shied away from stores, and Netflix enjoyed a surge in subscribers as home-bound consumers had more time to watch TV. Alphabet and Meta, for example, suffered from big slowdowns in revenue growth as hard-hit industries such as travel and hospitality pulled back on advertising. Some tech companies saw immediate negative impacts. It was impossible to predict in March 2020 how tech companies would fare as the COVID-19 pandemic shut down economies and led to massive job losses. Tech stocks, COVID-19, and the bear market That winning streak ended in 2022, though, when almost every major tech stock fell, along with the broader market. The companies dominate their industries, and their stocks have produced impressive returns during the past decade. Meta (formerly Facebook), Amazon, Apple, Netflix, and Alphabet (Google) are sometimes grouped together as the FAANG stocks. Alphabet ( NASDAQ:GOOG) ( NASDAQ:GOOGL) is the parent company of online search giant Google and the popular Android operating system for smartphones.The company sees virtual reality as its future. Meta Platforms ( NASDAQ:META) is the largest social media company, with more than 2 billion daily active users across Facebook, Instagram, Messenger, and WhatsApp.Netflix ( NASDAQ:NFLX) is the top dog in the video streaming industry, spending billions of dollars each year on content to keep its subscriber base hooked.The company is betting big on manufacturing, with plans to make chips for other companies. Intel designs and manufactures central processing units (CPUs) for PCs and servers, as well as specialty chips for uses such as artificial intelligence. Intel ( NASDAQ:INTC) is one of the largest semiconductor companies in the world.Intense customer loyalty ensures plenty of repeat customers, and a growing array of services makes Apple’s ecosystem sticky. Apple ( NASDAQ:AAPL) makes the iPhone, the iPad, and Mac computers.Microsoft is also the second-largest provider of cloud infrastructure. Microsoft ( NASDAQ:MSFT) is a dominant software company known for its Windows PC operating system and Office productivity software.Founder Jeff Bezos stepped down in July, opening a new chapter for the dominant tech company. ( NASDAQ:AMZN) is the leading online retailer and leading provider of cloud computing infrastructure.These are some of the most dominant and impressive tech stocks that investors should consider: Many of the most valuable companies in the world are technology companies. So are the video streaming companies that provide easy access to high-quality content, and the cloud computing providers that power those streaming services. Telecom companies that provide wireless services are part of the tech sector. Semiconductor companies design and/or manufacture central processing units, graphics processing units, memory chips, and a wide variety of other chips that help to run today’s devices. The arrangement generates recurring revenue for the software company. Software companies are increasingly moving to a software-as-a-service model where customers buy a subscription to a program instead of a one-time license. These design the software that runs on hardware, such as:
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