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Apple's strong earnings report has helped the volatile tech sector regain some much-needed footing.

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Apple Puts Much Needed Shine on Troubled Tech Sector

Apple’s strong earnings report has helped the volatile tech sector regain some much-needed footing.

It was just recently that the Nasdaq set a series of new all-time highs, fueled by strong earnings expectations for leading high-profile tech companies like the FAANG stocks — Facebook (Nasdaq: FB), Amazon.com (Nasdaq: AMZN), Apple (Nasdaq: AAPL), (Netflix (Nasdaq: NFLX) and Alphabet/Google (NASDAQ: GOOG).

However, in the last week, big disappointments from the likes of Facebook, Twitter (NYSE: TWTR), Intel (Nasdaq: INTC) and PayPal Holdings (Nasdaq: PYPL) caused the Nasdaq shed over 300 points in the span of just three days. Thankfully, the hemorrhaging in the tech-rich index abated after strong earnings from Apple, which just became the first company to officially reach a $1 trillion market capitalization.

Appleâ??s strength is causing some renewed market optimism, and this optimism has spilled over into other big-cap tech stocks that were summarily hit with last weekâ??s sector sell-off. Trusted names in the sector have all recouped a good portion of their short-term declines.

Unfortunately, the high-tech blow off shows how vulnerable investor sentiment can be when all the earnings stars donâ??t line up just right. I expect that volatility will remain elevated for the tech space during August.

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archive

Apple Puts Much Needed Shine on Troubled Tech Sector

It was just recently that the Nasdaq set a series of new all-time highs, fueled by strong earnings expectations for leading high-profile tech companies like the FAANG stocks — Facebook (Nasdaq: FB), Amazon.com (Nasdaq: AMZN), Apple (Nasdaq: AAPL), (Netflix (Nasdaq: NFLX) and Alphabet/Google (NASDAQ: GOOG).

However, in the last week, big disappointments from the likes of Facebook, Twitter (NYSE: TWTR), Intel (Nasdaq: INTC) and PayPal Holdings (Nasdaq: PYPL) caused the Nasdaq shed over 300 points in the span of just three days. Thankfully, the hemorrhaging in the tech-rich index abated after strong earnings from Apple, which just became the first company to officially reach a $1 trillion market capitalization.

Apple’s strength is causing some renewed market optimism, and this optimism has spilled over into other big-cap tech stocks that were summarily hit with last week’s sector sell-off. Trusted names in the sector have all recouped a good portion of their short-term declines.

Unfortunately, the high-tech blow off shows how vulnerable investor sentiment can be when all the earnings stars don’t line up just right. I expect that volatility will remain elevated for the tech space during August.

Click here to read the rest of the article, “Apple Puts Much Needed Shine on Troubled Tech Sector.

Newsletter Signup.

Sign up to the Human Events newsletter

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