Stocks in the technology sector are once again on the rise. The technology sector had a difficult spring, as traders shifted their focus to emerging stocks, cryptocurrencies, and meme plays.
However, as a result of an increase of COVID-19 viral types, bitcoin has plummeted and reopening stocks have taken a beating.
With all of this in place, the summer is shaping up to be a strong one for tech stocks, particularly for the following ones:
A federal judge rejected antitrust accusations against Facebook in late June. The Federal Trade Commission (FTC) accused Facebook of behaving as a monopoly in social media. If the FTC had its way, it would have forced Facebook to sell off its other key assets, such as WhatsApp and Instagram, to establish a more competitive social media ecosystem.
The court’s decision has far-reaching repercussions. While Facebook was the focus of that investigation, it’s no secret that regulators have been eyeing all of the digital giants as possible monopolies, none more so than Alphabet.
According to a blog by an American online casino, in terms of internet advertising, Google’s search company has a huge market share. And, to expand its reach, the search business is integrated with its operating system and applications such as Gmail. Google’s other projects, such as Waymo, a self-driving car business, might also expand Google’s domain into next-generation technologies.
Jack Henry is a significant payment processing and information technology firm, with banks and credit unions as its primary clientele. The firm is highly steady, and it did not lose a beat even throughout the financial crisis. Due to sustained expansion in the overall demand for payments and financial services, the stock of Jack Henry has increased by more than 500% since then. Some real money casinos use Jack Henry as part of their payment methods.
More subsequently, it has become clear that credit-quality issues did not result in significant financial losses for banks. The banks are roaring back as the economy improves in 2021; financials have been one of the best-performing industries this year.