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Aside from the bloodshed of technology, ride these two giants later in the recovery, according to veteran analysts

Aside from the bloodshed of technology, ride these two giants later in the recovery, according to veteran analysts

The 2020 winner was absolutely struck on Thursday because there is no apparent catalyst — the Red Sea for things like Apple, Microsoft, Tesla TSLA
-9.02%
And zoom video communication ZM,
-9.97%..
And sales weren’t limited to technology stocks—small cap RUT,
-2.99%
VLUE stock and value
-2.34%
Fell too. Only a few hard-hit travel stocks actually rose.

“The stock market was far behind with the big technology leading the South Road.” Jeffrey Halley, Senior Market Analyst for Asia Pacific at Oanda, said: “Our rest. For, the market was long and wrong, and now some of their profits and losses [profit and loss] It’s gone. “

The Bespoke Investment Group charts properly encapsulate the fact that the winner was sold.

Eddy Elfenbein Crossing Wall Street Blog In the midst of the rally, he says these kinds of days are not uncommon. “The reverse trend rally is typical of the larger rally, but this does not mean the end of the superstar stock rally. Obviously there are nervous investors and bearish Indicates that they are prepared to resist,” he says.

Dan Ives, a veteran technology sector analyst at Wedbush Securities, is unwavering.

” [Thursday’s] Massive sell-outs cause some white knuckles on the street, as fear of the technology bubble and growing appreciation become the subject of the town. We believe that the long-term growth theme for the technology sector is unprecedented, with one growth story accelerating behind COVID. Sometimes it’s -2 years,” says Ives. “There’s a lot of good news in these names, but we see a reaction like today as an opportunity to own a long-term growth story with a solid FAANG name for cloud, cybersecurity, and technology. FAANG, who represents Facebook’s FB, said.
-3.76%,
Amazon AMZN,
-4.62%,
Apple, Netflix NFLX,
-4.90%
And Google owner Alphabet GOOG,
-5.00%..

Ives said the second phase of economic rebound from the latter half of this year to 2021 “supercharges” the fundamentals and growth trajectory of well-positioned technology stocks. “In this next phase, the number of streets is volatile, but the focus of tech investors looking for the fall is on’risk-on’ trading and the quest for long-term growth stories. Is expected to rise, further boosting the rating on technology stocks. And general tensions over US-China trade tensions and the November elections,” Ives said.

He said investors should focus on Apple AAPL,
-8.00%
And Microsoft MSFT,
-6.19%..
“For Apple, the service business is [Chief Executive Tim] Cook & Company is now shifting drum rolls to a major demand for smartphone upgrades for the iPhone 12 5G Supercycle, which is scheduled to start in early October. Regarding Microsoft, “This cloud shift [work-from-home] We remain confident that Dynamic is still here and the company is a major beneficiary of this trend in the flagship Azure/Office 365 franchise for the next few years,” he says.

Buzz

The non-agricultural payroll report is an important indicator of how well the economy is recovering from the blockade. Economists surveyed by MarketWatch predict that 1.2 million jobs will be created in August after growing 1.76 million in July and 4.79 million in June. The unemployment rate is expected to drop to 9.8%.

“The slow pace shows that the US economy is still struggling with COVID-19. This means local regulations and people at home because of the risk of getting a virus. “Piet Haines Christiansen, chief analyst at Danske Bank, said:.

Deutsche Bank used this diagram to show how the currency market reacts.

Other than payroll, Broadcom AVGO,
-6.11%
At the end of Thursday, demand from cloud and telecom customers helped semiconductor and industrial software makers report more than expected revenue.

market

S & P 500 ES00,
-0.16%
The contract exceeded Nasdaq-100 NQ00,
-1.06%
The day after the big sale.

Asian ADOW,
-1.45%
Shares fell, but European stocks were SXXP,
-0.29%
Sharpened higher

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