Wall Street braces for a different 2021 with tech giants to take a back seat
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Wall Street braces for a different 2021 with tech giants to take a back seat
By Jeran Wittenstein
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As 2021 approaches, many on Wall Street are bracing for unfamiliar territory: a year when technology companies may not be the biggest stars of the stock market.
The Nasdaq 100 Index is on track for its best year in more than a decade with a 43 per cent advance so far in 2020, led by companies with triple-digit gains and eye-watering valuations like Zoom Video Communications and DocuSign. That s raising speculation that the rally may fizzle at least for a while in 2021, when the group s earnings growth is projected to lag behind less-expensive sectors like industrials.
Wall Street braces for a different 2021 with tech giants to take a back seat
We’re sorry, this service is currently unavailable. Please try again later.
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Wall Street braces for a different 2021 with tech giants to take a back seat
By Jeran Wittenstein
Normal text size
Advertisement
As 2021 approaches, many on Wall Street are bracing for unfamiliar territory: a year when technology companies may not be the biggest stars of the stock market.
The Nasdaq 100 Index is on track for its best year in more than a decade with a 43 per cent advance so far in 2020, led by companies with triple-digit gains and eye-watering valuations like Zoom Video Communications and DocuSign. That s raising speculation that the rally may fizzle at least for a while in 2021, when the group s earnings growth is projected to lag behind less-expensive sectors like industrials.
Tech Stocks May Take Back Seat in 2021 980waav.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 980waav.com Daily Mail and Mail on Sunday newspapers.
Wall Street braces for 2021 oddity: Tech stocks in the back seat
Jeran Wittenstein, Bloomberg News Signage is displayed outside the Nasdaq MarketSite in the Times Square neighborhood of New York, U.S., on Monday, July 20, 2020. , Michael Nagle/Bloomberg
As 2021 approaches, many on Wall Street are bracing for unfamiliar territory: A year when technology companies may not be the biggest stars of the stock market.
The Nasdaq 100 Index is on track for its best year in more than a decade with a 43 per cent advance so far in 2020, led by companies with triple-digit gains and eye-watering valuations like Zoom Video Communications Inc. and DocuSign Inc. Thatâs raising speculation that the rally may fizzle at least for a while in 2021, when the groupâs earnings growth is projected to lag behind less-expensive sectors like industrials.