The market reaction to recent corporate updates hints at valuation concerns
Thursday 29 Oct 2020 Author: Ian Conway
In a sign that it’s sometimes better to travel than arrive, several US technology stocks went down last week despite delivering forecast-beating earnings. Notable names included software firm Citrix, cloud computing and services business IBM and chip maker Intel. According to veteran US technology investor and commentator Fred Hickey, ‘of the 17 tech stocks I follow that reported earnings last week, 100% beat analysts’ estimates yet 12 of the...