Worst-performing tech stocks of the week suggest the US is beyond the blockade

Interesting thing happened On the way to the stock market retreat..

Stay-at-home order that most benefited from Covid-19 and subsequent blockades Etsy, DoorDash, zoom When DocuSignThis week was the worst performance. This is the opposite reaction that could be expected as a new Covidomicron variant. World Health Organization said It poses a “very high” global risk and spreads around the world.

The sharp sell-out ends with a shutdown that boosts food delivery and streaming TV services, no matter what happens at Omicron, where people collaborate remotely for work and chat endlessly with friends and family on video. It suggests that investors are betting that they are being forced to.

Pandemic darling Zoom’s share plummeted 16.5% in a week, hitting a 52-week low of $ 177.12 per share on December 3, down 69% from its October 2020 high. For early pandemic mask buyers, it decreased by 20.6% in a week, while food delivery service DoorDash decreased by 16%, Roku decreased by 13%, and Shopify decreased by 10.5%. Netflix It fell by 9.5%.

Meanwhile, DocuSign, a digital signature software maker that tripled in value last year, said 42% of fascination JP Morgan analyst Sterling Oti wrote in a note to customers on Friday after the company’s weak fourth-quarter guidance showed that “the pandemic tailwind stopped much faster than expected.” rice field.

Traveling around the entire tech sector was a pain. The Nasdaq Composite fell by more than 1.9% on Friday and fell 2.6% in the fifth worst week of the year. The disappointing work report of ending the week, coupled with Omicron’s concerns, led to the recession on Friday.

However, some of the names of the best tech companies have withstood the pressure. Apple, HP When Cisco Investors seeking coverage from market volatility turned to cash-generating companies that pay dividends from high-risk stocks, all profiting in a week.

Earlier this week, Federal Reserve Chair Jerome Powell could start curtailing bond purchases designed to boost the economy as central banks are concerned about rising inflationary pressures. Said.

Following Powell’s remarks on Tuesday, Apple The only tech stock that was up..

“There are quality flights for companies that know they can survive the storm, go bankrupt, and feel financially distressed,” Needam analyst Laura Martin told CNBC.

Apple fell on Friday, but it’s still up more than 3% that week. HP’s share surged about 8% this week, hitting a record high on Friday. HP CEO Enrique Lore Said last week The company anticipates strong demand for personal computers for a “foreseeable future” across the segment.

With Cisco Broadcom This week it has risen by more than 2% Intel When Qualcomm The rate of increase was less than 1%.

But in the large technical arena, the market was a bright red sea. Facebook, AMD, Adobe When Tesla Cloud software vendors all fell by more than 6% in a week AsanaWas the best performing tech stock of the year, but plunged 36.8%., Another recent outperformer slid 21%.

Salesforce When the company issued something weaker than expected on Tuesday, it played a role in contributing to cloud concerns. Fourth Quarter Forecast.. This week’s inventory is down 9%.

“This was wild,” said Byron Dieter, a partner at Bessemer Venture Partners, which invests in cloud software, in an interview with CNBC’s “TechCheck” on Friday. “You can see four causes. You can see Omicron. You can see inflation. You can see interest rates. And you can make a profit. I can.”

But Dieter quickly points out to skeptics what happened last year.

“Working from home is actually very good for cloud stocks, just in case,” Dieter said. Inflation can be a source of concern, he said. “Downstream ties to inflation can certainly lead to rotations in valuing stocks and cash-generating stocks over time.”

look: Cloud stocks are likely to remain volatile

Worst-performing tech stocks of the week suggest the US is beyond the blockade

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