Stock Groups

Wall Street Predicts These 3 Large-Cap Tech Stocks Will Plunge More Than 16% -Breaking

by Mike Robinson

[ad_1]

Wall Street predicts these 3 large-cap tech stocks will plunge more than 16%

Increasing data-center expansion, the 5G rollout, and the continuing digital transformation are fueling the tech industry’s growth. But the tech boom that was driven by the pandemic appears to be slowing, with the sector facing supply chain disruptions and shortages of semiconductor chips. Wall Street analysts predict that Cloudflare, Asana and ASE Technology will all see a sharp drop in their prices in the short-term. So, let’s discuss these names.COVID-19’s continuing spread should continue to drive the demand for tech products and solutions. Also, increasing spending on strengthening analytical capabilities makes the technology industry’s prospects bright. A Forrester report predicts that the U.S. will spend 6.8% more on technology in 2022 and 6% in 2021. Furthermore, the expansion of data centers, the rollout of 5G, business automation, and remote lifestyles are also driving the technology market’s growth.

The tech boom that was driven by the pandemic is slowly slowing down. Many companies are facing production delays and disruptions due to shortages of semiconductor chips and supply chain disruptions. Due to increasing competition for market share, many industry players are finding it difficult to remain afloat.

Wall Street analysts predict that the stock prices of large-cap fundamentally poor stocks Cloudflare, Inc., Asana, Inc., and ASE Technology Holding Co., Ltd. will fall by more than 16% over the next few years.

Continue reading on StockNews

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses or other consequences arising from the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]