Many tech shares today this Wednesday are seeing a general decline, leaving many investors wondering what the short-term future of tech (such as the anticipated releases of both the iPhone 12 and the Xbox Series X/S for example) will look like.
According to CNN Business (Links to all cited articles will be down below), much of the tech sell-off was seen Tuesday, pushing the NASDAQ to correction territory. The NASDAQ has seen a decline of 10% from it's peak and closed at 4.1% this Tuesday.
News of the sell-offs have also spilled on over to Asia as China's Shanghai Composite (SHCOMP) and Japan's Nikkei 225 (N225) both saw retrospective declines of 1.9% and 1%.
Apple Being The Exception To The Rule
While many tech shares as previously metioned have been seeing declines, Apple have seemly been able to avoid that as shares for Apple have been up a strong 4.6%. The reason for this bump in April's shares could be attributed to anticipation for the iPhone 12 which is expected to come out later on this year in October. That being said, there is also speculation that the bump could also be because Apple's contract producer 'Taiwan Semiconductor', was reported to be ready to produce a new line of computer processors for Apple.
What This Means For The Overall Market
With all of this news, it should be noted that the Stock Market in a lot of ways simply represents the sentiments and the general feelings of the individual investors that decide to put their money at risk and invest in many of these Fortune 500 companies. With the Pandemic still on-going as of late and as a result it severely affecting many production lines, this could result in for example delays for many anticipated tech products that usually come out around Q4.
I wouldn't be surprised if once we hit Q4 and if we start seeing expected releases of products on schedule, that we may actually start seeing many of the tech stocks like Microsoft for example see a decent run.
If there's anything that 2020 has taught us, it's that almost nothing is predictable and ciaos can often come at short notice.
If you had any additional takeaways from my article, let me know down below 💪.
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Articles Cited:
https://edition.cnn.com/2020/09/08/investing/global-stocks/
https://www.fool.com/investing/2020/09/09/why-apple-stock-just-popped-5/
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