In recent years, big tech names like Apple have (AAPL) – Get Apple Inc. reportmetaplatforms (FB) – Get Meta Platforms Inc. Class A report and Amazon (AMZN) – Get report from Amazon.com, Inc seemed almost immune to the Wall Street downturn.
In fact, their strong performance for most of 2021 eclipsed the otherwise dismal performance of many other companies’ stocks and carried major stock indices higher thanks to their outsized influence.
But since early 2022, big tech has come down on earth in a painful way as fears of rising interest rates, a global economic slowdown and the uncertainty of Europe’s biggest land war in 75 years sent stocks plummeting.
But a Wall Street veteran is out Monday with a series of tweets offering perspective and support for tech stocks. And maybe they’re even more optimistic than tech fanatic Cathie Wood. Wood has been hit hard by critics of her Ark Innovation ETF (ARKK) – Get the ARK Innovation ETF report for their ongoing purchases of technology…