The combination of expensive stocks and poor fundamentals has led to a sharp and brutal bear market ...
The combination of expensive stocks and poor fundamentals has led to a sharp and brutal bear market in technology stocks worldwide. What has been especially concerning is that no area of technology has escaped unscathed. Signs of deterioration were first seen in the semiconductor and telecom equipment spaces last summer before spreading to PCs and servers and then most recently into areas such as storage, software and optics. The last areas hit were considered strong secular growers, able to withstand all but a long recession. The fact they have been affected characterises the scale...
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