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Tech giants could see more speed bumps ahead
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Yong Jun Yuan
Published Mon, Apr 3, 2023 · 05:50 AM
AFTER six years of holding Google stock, I decided to begin selling down my stake on Mar 21, ahead of the US Federal Reserve’s rate hike on Mar 22.
It was a difficult decision to make because it seemed like the mega-cap tech stocks were finally catching a break after a terrible 2022.
Year to date, Meta, Amazon, Apple, Netflix and Google shares have gained between 11 and 71 per cent, compared to the tech-rich Nasdaq Index’s 17 per cent rise as at Mar 24, 2023.
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