Tech stocks carried the stock market higher in 2020 as the COVID-19 pandemic caused billions of people to seek shelter and instead congregated in cyberspace. However, experts believe that more uneven performance is expected in 2021 as companies move from crisis mode to long-term plans.
Analysts had expected 2020 story to lead to a resurgence in chip sales after a supply glut in 2019. They just ignored the growth in technology caused by pandemics as data centers built their capacity to handle the surge in Internet traffic and laptop sales soared to accommodate work and school at home.
This unexpected surge meant that digital transformations across the board had to happen on the “now” rather than the “later” scale. Suddenly everyone needed a “digital contact center” to replace in-person business and was pouncing on everything that seemed to work at the time, said Maribel Lopez, principal analyst at Lopez Research, in an interview with MarketWatch.
“Transformations that …