Connect with us

Hi, what are you looking for?

News

Another Big Stock-Market Rotation Is Under Way, and Tech Is on Top Again

Another Big Stock-Market Rotation Is Under Way, and Tech Is on Top Again

Shares of big technology companies have been flying past the rest of the market.

After languishing for months, the group has staged a resurgence with several tech behemoths hitting records in recent sessions.

Apple Inc. shares closed at a record Friday, after notching their first new high since January earlier in the week. Microsoft Corp. and Amazon.com Inc. shares also jumped to records Wednesday and Thursday, respectively.

“I’m very bullish on companies that can provide strong organic growth and predictable growth,” said Dev Kantesaria, founder of Valley Forge Capital, who said he recently added to his Amazon holdings. “Certainly the big technology companies will be able to do that.”

Some investors and analysts say they have become less optimistic that the U.S. economy’s recovery will sustain its strong momentum. Lackluster economic data over the past week and fears about the Delta variant of the Covid-19 virus have stoked volatility in stock and bond markets.

You May Also Like

World

France, which has opened its borders to Canadian tourists, is eager to see Canada reopen to the French. The Canadian border remains closed...

Health

Kashechewan First Nation in northern Ontario is experiencing a “deepening state of emergency” as a result of surging COVID-19 cases in the community...

World

The virus that causes COVID-19 could have started spreading in China as early as October 2019, two months before the first case was identified in the central city of Wuhan, a new study...

World

April Ross and Alix Klineman won the first Olympic gold medal for the United States in women’s beach volleyball since 2012 on Friday,...