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Boom and now bust?

Amazon posted some impressive financial results last week with turnover hitting $96bn for the last quarter and net income topping $6bn. AWS recorded turnover up by almost a third at $11.6bn.

These impressive results coincided with technology stock prices recovering from a period of turbulent trading, with most leading stocks posting solid gains.

Apple, Facebook and Google-parent Alphabet added a collective $230bn to their market value, despite fears of a global surge in coronavirus cases and worries about the global economy.

To date, despite the ups and downs of the market, the tech giants who were worth $5trn in January are now worth an incredible $7trn.

While the tech sector appears to have benefitted from changing consumer habits during the pandemic, a number of leading investors are now warning that technology stocks are in an “enormous” bubble and some believe that the bubble has already popped.

If those analysts are proved correct its going to be an interesting few months - if not, just how much further can the tech sector go?

Neil Tyler

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