Welcome to the Era of Tech-Biquity
Dear Wall Street Daily Reader,
Investors need to stop their small-minded thinking:
Tech companies are not just tech companies.
As I shared recently with Maria Bartiromo, we’re entering an Era of Tech-biquity.
In this new era, tech infiltrates more and more of our personal and professional lives. And eventually, it becomes a seamless component in, well, everything.
And guess what? Tech’s pervasiveness will only keep increasing from here.
In fact, we got more proof of it this week.
Let me show you what I mean…
Proof of Tech-Biquity
- Amazon.com, Inc. (AMZN) is reportedly looking to enter the pharmacy business. Given its distribution power (including 500 brick-and-mortar Whole Foods stores, intense customer loyalty, and unparalleled buying data to provide us with what we want and need), this is a natural extension into a traditionally non-tech industry. Not to mention, it’s the perfect complement to Amazon’s recent decision to roll out its telehealth services, Amazon Care, nationwide.
- Alphabet Inc. (GOOG) inked another deal with a hospital chain to develop healthcare algorithms. According to the two companies, their partnership will improve operating efficiency, help the monitoring of patients, and help guide doctors’ decisions. If any industry has been way behind the curve in leveraging tech to digitize and optimize operations, it’s healthcare. Case in point, the industry required a freaking act of Congress to force it to transition to electronic medical records, the most no-brainer application of tech that ever existed.
Of course, any time Big Tech takes a bigger part in our lives, people immediately think it’s bad, and they look to play the blame game.
Well, this time, forget blaming it on the rain, Milli Vanilli-style. Blame it on the pandemic and the fact that technology unequivocally improves our lives.
As I’ve noted before, the pandemic accelerated the rate of digitalization, especially in industries that were traditionally non-tech based. Covid-19 and a complete global lockdown left companies no choice but to move everything online.
At the same time, every major tech innovation in the last decade has done nothing but improve the quality of our daily lives, with the possible exception of social media.
In the coming weeks and months, I’ll flesh out — and prove out — this concept of Tech-biquity even more.
And in the process, I’ll obviously show you the best ways to profit from it, too.
In the interim, for more insights and perspective on this topic, take a look at my appearance today on Fox Business by clicking the image below.
Ahead of the tape,
Editor and Founder, Trend Trader Daily