Tech Sector Feeling the Love…Again!!
Well, who da thunk it? Tech is back, baby!
Google shares soar more than $30 in after-hours trading yesterday after the company posts stellar first-quarter results; Nasdaq hits a 52-week high and moves in territory it hasn't seen in more than five years; and Fortune magazine has a story on how to be “smart” about investing in the new “Net boom”. Perhaps the real sign of a tech comeback - at least in Canada - will come when Nortel becomes the subject of animated dinner party conversations again. It is also fascinating that some of the money now flowing into tech stocks is coming from investors who have done well from the oil and gas boom. Even with oil trading close to $70 a barrel, some investors are looking to cash out when the going is good - and tech, in comparison, looks pretty cheap.
April 21st, 2006 at 9:00 am
The tech boom….in particular internet advertising, and even more specifically search and directory advertising, definitely has legs. It's overlooked even in the Google articles of the day. We talk about eyeballs and the growth of new free Google services, but the real change, and the force driving profits, is that small businesses are moving their ad dollars online at a feverish pace. I am in the trenches selling websites and directory advertising to small business…the change is BIG and moving ultra fast. Hang on.