Five Reasons to Doubt a Coming Techpocalypse
From Bitcoin to FAANG (Facebook, Apple, Amazon, Netflix and Google) stocks, it’s become the talking heads’ favorite daytime activity to opine about their imminent collapse.
I’ll concede the Bitcoin doubters have good cause. After all, there aren’t any widely accepted fundamental metrics to evaluate the cryptocurrency and anchor a valuation argument.
Supply, demand and an inordinate amount of hype dictate price activity, which will prove to be a deadly combo. Eventually.
The objections to sky-high tech stock prices, however, is totally preposterous.
The end of tech stock dominance is not nigh!
Yes, it’s true the Nasdaq eclipsed dot-com two years ago and hasn’t looked back. But that fact alone doesn’t mean a dot-com style collapse is lurking right around the corner.
For one thing, we’re not living in the dot.com days anymore. Tech has gone from a niche and up-and-coming sector to an all-encompassing force of everyday life.
Want proof? Try to go a single day without using a consumer electronic device or service that relies on technology. Can’t do it, unless you go visit some Amish relatives, can you?
But forget about such anecdotal evidence. There’s cold, hard data that proves any talk about an impending techpocalypse is hogwash.
Newsflash – cash-heavy companies don’t spontaneously go belly up.
Not convinced yet? Click here for five more stats that prove it’s time to completely dismiss any pundits slinging fear about an impending techpocalypse. The bull market in tech stocks is far from over.
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