Bloomberg’s Ed Ludlow covers the Nasdaq 100’s worst drop since 2022 as tech leads a global market selloff. Plus, we look at Apple as Berkshire cuts its stake in the company by nearly 50%. And the future of AI startup Groq as it hits a $2.8 billion valuation.
Chapters:
00:07:02 – Edward Jones Senior Strategist Angelo Kourkafas
00:19:21 – Groq Founder & CEO Jonathan Ross
00:26:16 – Laffer Tengler Investments CEO & CIO Nancy Tengler
00:33:41 – Wellington Private Investments Consumer & Tech Lead Matt Witheiler
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“Bloomberg Technology” is our daily news program focused exclusively on technology, innovation and the future of business hosted by Ed Ludlow from San Francisco and Caroline Hyde in New York.
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date 2024-08-05 19:07:08
views 16819
author UCrM7B7SL_g1edFOnmj-SDKg
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The transcript is a recording of a live broadcast of Bloomberg Technology, and it appears to be a discussion among experts on the current state of the technology market. The conversation centers around the recent selloff in the tech sector, with a particular focus on the Nasdaq 100, which has suffered its worst drop since 2022.
The panelists discuss the reasons behind the selloff, citing factors such as the rapid decline in tech stocks, the Federal Reserve’s interest rate hike, and the implications of the US dollar’s appreciation on international markets. They also touch on the impact of the global economy on the tech sector, highlighting issues such as inflation, supply chain disruptions, and the overall economic uncertainty.
The panelists also discuss the role of earnings expectations in the recent market volatility, noting that investors had been overly optimistic and are now adjusting their expectations. They also reference the “magnificent seven” tech companies that had driven the market’s growth in the first half of the year, but are now experiencing a decline.
Some interesting DeFi facts mentioned in the conversation include:
* The 4,344 reasons why tech faced impossible expectations, including basis points and valuation multiples.
* The deceleration of growth rates in tech earnings, which will show tough comps in the second half of the year.
* The role of the US dollar’s appreciation in international markets, which is affecting the tech sector.
Overall, the conversation is a deep dive into the current state of the technology market, with insights from experienced professionals on the factors driving the selloff and what to expect in the coming months.
