From Bitcoin to FAANG (Facebook, Apple, Amazon, Netflix and Google) stocks, it’s become the talking heads’ favorite daytime activity to opine about their imminent collapse.
I’ll concede the Bitcoin doubters have good cause. After all, there aren’t any widely accepted fundamental metrics to evaluate the cryptocurrency and anchor a valuation argument.
Supply, demand and an inordinate amount of hype dictate price activity, which will prove to be a deadly combo. Eventually.
The objections to sky-high tech stock prices, however, is totally preposterous.
The end of tech stock dominance is not nigh!
Yes, it’s true the Nasdaq eclipsed dot-com two years ago and hasn’t looked back. But that fact alone doesn’t mean a dot-com style collapse is lurking right around the corner.
For one thing, we’re not living in the dot.com days anymore. Tech has gone from a niche and up-and-coming sector to an all-encompassing force of everyday life.
Want proof? Try to go a single day without using a consumer electronic device or service that relies on technology. Can’t do it, unless you go visit some Amish relatives, can you?
But forget about such anecdotal evidence. There’s cold, hard data that proves any talk about an impending techpocalypse is hogwash.
Newsflash – cash-heavy companies don’t spontaneously go belly up.
Not convinced yet? Click here for five more stats that prove it’s time to completely dismiss any pundits slinging fear about an impending techpocalypse. The bull market in tech stocks is far from over.
Many fear that America’s $20.4 trillion debt crisis is more worrisome than ever. Yet the president recently said that stock market gains offset the national debt. Could this actually be accurate? Let’s dig in… Read more »
Whether we like it or not, millennials continue to help shape the economy. If you’re in denial of the power of millennials, consider this… Read more »
Snap’s viability as a social media platform is quickly waning. Shares have been in free fall since IPO-ing in March, and there’s no telling how far they can fall. Need more proof? Here are three ticking time bombs buried deep inside Snap. Read more »
Based on recent news about layoffs at Blue Apron, it appears that management sold the hype around its IPO, knowing that the business itself was unstable. As a result, Blue Apron shares are under incredible selling pressure — down 50% since its IPO. If you didn’t see the Blue Apron meltdown coming, you ain’t seen nothing yet! Here are three more impending market disasters… Read more »