Dot-com bust 2.0 is becoming a reality
- Thread starter gwb-trading
- Start date
One thought...if/after Musk brings free-speech to the platform... Google is very liable to ban it from their app store like they did with Truth Social?
That they will probably do. What they fail to realize is more and more people are turning away from fake news. Look at what is happening at CNN? All their fluffing of Joe Biden's so called accomplishments and his Putin price hike BS grew old pretty fast. There is no value in liars because what are they worth, $0.01 a ton nowadays? US extreme liberal media has done a terrific job of hiding the massive demonstrations going on in Europe by suppressing the news on it. However, a lot of people in the US still is aware of what is happening in Europe. A huge failure of fake news propagandists.
Damn it!! If I had known SEC would twist Musk's arms this hard to force him to go through with the deal no matter what happens, I should've bought twtr when it was below the takeover price to get the $$.
Well they also had the biggest rise vs S&P which represents the broader market and like I said in my previous post, the tech. sector experienced a much higher demand vs the rest of the sectors during the unique and special period brought upon by covid. Now that covid is over, its demand goes back down to its previous level before covid (Who needs docusign if I can just go see my clients to have him/her sign the document face to face now so I can make more sales pitch?) and its share price adjusts accordingly as well. That's very normal and should be expected. If you compare the tech sector's current level to its pre-covid level, it didn't really drop that much.
Googl and MSFT had negligible benefit from covid? Really? Are you kidding me?? All those searching for up-to-the-second update on covid on Google, downloading apps to cope with covid, buying stuff online using google wallet all produced negligible benefits for Google? Using skype for remote working arrangement, teleconference, using MS Office Suite products like Sharepiont and Outlook for interactively sharing work online produced negligible benefits for Microsoft?? Really? Were you in a coma during covid or did you just come back from space? TSLA is different. The company is on its way down especially with its unstrategic purchase of TWTR and the price-cutting efforts by Chinese EV copycats, the company is going through "adjustments". If you ask me, the move of his EV plant to his dumbest move so far. It's like voluntary technology gifting. LOL TSLA's competitive advantage is dropping, so of course the company's share price is dropping accordingly.
Honestly I don't really see the tech. industry changed negatively let alone crashing in any way.
Notice you didn't mention AMZN (where all that ordering wound up), down something like -47% from ATH.
Meanwhile GOOGL down -36%, MSFT -32%
All subject to further downward revision in price percentages ... if trend continues.
Look at their financials: MSFT for example
Revenue
2020 143,015,000
2021 168,088,000
2022 198,270,000
EPS
2020 5.82
2021 8.12
2022 9.70
Like I said negligible or basically on trend.
Newsmedia talked up Zoom and Peloton and everyone is cocooning and ordering from Doordash and Amazon big chit. Whole lotta nuthin'.
AMZN especially. It profited tremendously at the expense of all the malls being closed. There were at times when the only place that people can buy stuff from is online from amazon during covid and you call that "negligible benefit" from covid? Now that the malls have re-opened, of course that's a different story.
I feel if they have no significant growth prospects, their prices will eventually return to pre-covid levels but it would hardly be a dot-com bust.