{"id":90507,"date":"1999-12-31T00:43:00","date_gmt":"1999-12-30T13:43:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/it-stocks-boom-as-wall-st-embraces-technology-giants\/"},"modified":"1999-12-31T00:43:00","modified_gmt":"1999-12-30T13:43:00","slug":"it-stocks-boom-as-wall-st-embraces-technology-giants","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/it-stocks-boom-as-wall-st-embraces-technology-giants\/","title":{"rendered":"IT Stocks Boom As Wall St Embraces Technology Giants"},"content":{"rendered":"

Wall Street investors are enthusiastically banking on another boom in the technology industry, but this time pundits say it’s not going to develop into a speculation bubble.<\/p>\n

Last week’s higher-than-expected earnings from the top US tech companies are driving the stockmarket back into the black and giving investors hope that the global economy will grow – just not in the way they expected.<\/span><\/font><\/div>\n

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With Apple expected to report top level earnings later this week, investors are looking at the prospect of a record trading day on the Nasdaq 100. Apple is expected to report US$51.1 billion in revenue, a 21.3 percent increase compared to last year, with shares in the iPhone maker tipped to rise by as much as five percent by the end of the week.<\/span><\/font><\/div>\n

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Investors meanwhile are genuflecting to other tech giants Alphabet (read Google), Amazon and Microsoft, after they led a US stocks recovery out of the worst correction in four years.<\/span><\/font><\/div>\n

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The S&P 500 Index and the Nasdaq 100 both ended the week on a high and the scramble for tech stocks is expected to continue when Wall Street opens tonight (Monday, AEST). The Nasdaq is just 4 percent from its record high, recorded back in the heady tech-boom days of 2000.<\/span><\/font><\/div>\n

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According to the Wall Street Journal, half of the 10 most-valuable US public companies are now technology outfits, led by Apple, Alphabet and Microsoft – and, with the reporting season trumpeting upbeat earnings in the sector, big investors want to be part of the action.<\/span><\/font><\/div>\n

<\/span><\/font><\/div>\n
Last week alone Microsoft stocks rose 10 percent, their largest gain since October 2000, Alphabet (n?e Google), gained 7.7pc and Amazon.com added 6.2pc.<\/span><\/font><\/div>\n

<\/span><\/font><\/div>\n
The companies all posted earnings above expectations as the companies move into cloud services, grow datacentres and customers move operations online.<\/span><\/font><\/div>\n

<\/span><\/font><\/div>\n
Amazon Web Services’s cloud-computing business has grown 78 percent annually, while Microsoft’s competing Azure service grew more than 100 percent year-on-year, generating nearly US$5.9 billion in revenue.<\/span><\/font><\/div>\n

<\/span><\/font><\/div>\n
It’s not such good news for tech start-ups, however, with investment firms downgrading their valuations. Of 49 US start-ups with IPOs in 2014, 11 are now trading below their per-share value.<\/span><\/font><\/div>\n

<\/span><\/font><\/div>\n
But another positive move has been consolidation in the chip industry, with last week’s US$19 billion takeover bid from Western Digital for SanDisk  pushing its stock up 70 percent. – Chris Castellari<\/span><\/font><\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

Wall Street investors are enthusiastically banking on another boom in the technology industry, but this time pundits say it’s not going to develop into a speculation bubble.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,26],"tags":[],"class_list":["post-90507","post","type-post","status-publish","format-gallery","hentry","category-archive","category-technology","post_format-post-format-gallery"],"yoast_head":"\nIT Stocks Boom As Wall St Embraces Technology Giants - Smart Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/it-stocks-boom-as-wall-st-embraces-technology-giants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IT Stocks Boom As Wall St Embraces Technology Giants - 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