Tech values during the crisis

Published on: 11-Jun-2020
Category: Trading
Last updated: 11-Jun-2020

Tech values during the crisis

Even if the global economy recently froze before the corona virus pandemic, the stock markets seem to have overcome the horrors. Rising prices and even new records are registered worldwide.

The main beneficiaries of the pandemic are large tech corporations, whose services are available to people even with exit restrictions and which are seen as hope for the future. The world's largest and most important tech index, the Nasdaq Composite, has now reached the highest level in its history. On Tuesday, after a three-day record hunt, the index reached 10000 points for the first time. The Nasdaq Composite is currently trading at 10020 points, an increase of 0.67 percent. The Nasdaq 100, which contains the 100 largest companies in the Nasdaq Composite, was also able to increase its course to over 10,000 points. It posted a gain of 1.28 percent and 74 points more than the composite index.

The tech index is driven by large companies such as Apple, Microsoft, Amazon and Tesla. The Amazon share also posted its record high this week but was unable to maintain its price and is currently down 1.9 percent. The share was able to make up for its March low with an increase of 60 percent. Tesla has exceeded this figure and has been able to increase its course by 170 percent since March. This allowed the stock to rise to over $ 1,000. But other tech giants like Facebook, Netflix or Alphabet have weathered the corona crisis well and are emerging as winners.

The courses are fueled by hopeful investors who see the future in the digitalization of all areas of life. This hope has now been supported by the Corona crisis and has given the Nasdaq its record. The index has already gained 11 percent this year, which is not common in the crisis. The broad-based S&P 500 is still minus 0.7 percent.



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