Tech Stocks Are Mixed As The Market Starts To Recover

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Tech StocksYesterday United States stock took a big hit. The Dow Jones Industrial Average, NASDAQ, and S&P 500 all closed in the red. However, yesterday wasn’t the only day that we’ve seen declines this week. As a matter of fact, the entire week has been a bit of a drain on the market. So, why is this happening? Well, there are two reasons that I think can be attributed to the declines we’ve seen throughout the week…

  • The Federal Reserve – Last week, the Federal Reserve made a long awaited announcement. In their announcement, they made it clear that interest rates were going to go up, but put investors at ease by saying that the movement in the rate will not be an aggressive rise. While investors were happy shortly following the announcement, I think the important fact started to hit them this week. The fact that interest rates are going up! This means that easy money isn’t going to be so easy and investors will have to start paying more attention to risk.
  • Durable Goods – Yesterday before the bell, an industrial report was released showing that durable goods orders were down in February; the third time the figure has fallen in three months. There’s no doubt that this figure had something to do with the increase in momentum the we saw in the fall yesterday.

However, I think that it’s important not to look at this as entirely bad. Isn’t this what the market does? Doesn’t it have it’s ups and downs? Aren’t corrections healthy? The answer to all of the above is “YES!”

Now that you know the why, here’s what’s going on with tech stocks today…

Facebook Stocks Are Bouncing Back

Facebook Inc (NASDAQ: FB)

Facebook stocks took a big hit yesterday; giving up much of the gains we’ve seen recently. However, we’re seeing good momentum today as the value of the stock bounces back. Currently (12:10), FB is trading at $83.15 per share after a gain of 0.28% so far today.

Outlook – As I’ve said in the past, I think Facebook stock is a great long term investment option. The reality is that the company has created the largest social network in history, but social media isn’t all they do. They continue to innovate and come up with new ways to create a profit. So, I could imagine that this one will only grow in the long run.

Twitter Stocks Are Also Recovering

Twitter Inc (NYSE: TWTR)

Twitter stocks were also hit pretty hard yesterday. However, we’re seeing strong momentum in the positive direction from the stock today. Currently (12:15), TWTR is trading at $50.42 per share after a gain of 1.86% so far today.

Outlook – This is another one that I follow closely; and another one that I’m particularly bullish on. While some will point to the new user issue as a reason that the company can’t grow, I beg to differ. As a matter of fact, Twitter has shown quarter after quarter that they are capable of increasing profits; even with minimal new user numbers. Also, they’ve opened the Firehose Feed to Google; which should help drive new users. All in all, I think we’ll see great growth from Twitter in the long run.

BlackBerry Stocks Flirt With Gains As Investors Anticipate Earnings

BlackBerry Ltd (NASDAQ: BBRY)

BlackBerry is set to release its earnings report tomorrow before the closing bell. In the mean time, their stocks seem confused as to where they should go. Currently (12:19), BBRY is trading at $9.31 per share after a gain of 0.32% so far today.

Outlook – In the short term, things aren’t looking great for BlackBerry. However, in the long run, I have faith that the company will do well as it weaves itself deeper into the Internet of Things and solidifies it’s stance as a prime provider of new technologies. With that said, now is not the time to buy. However, it’s definitely the time to watch for major developments that could change that assessment.

Micron Technology Stocks Make It To The Green On New Analyst Coverage

Micron Technology, Inc. (NASDAQ: MU)

As with most stocks in the technology sector in particular, and through the US, Micron Technology had it’s share of trouble in the market yesterday. However, today, things are on the up and up as analysts at MKM partners announce coverage of MU to investors. The stock currently has a Neutral rating with a target price of $33 with the firm. Currently (12:27), MU is trading for $27.11 per share after a gain of 2.03% so far today.

Outlook – Micron Technology is a great company that seems to be on pace for solid growth. While I don’t know enough yet to make investments in the stock myself, I will be following the stock closely and reporting what I learn as I go.

Plug Power Stocks Are Still In The Red

Plug Power Inc (NASDAQ: PLUG)

Plug Power has had a hard time in the market recently for two reasons. First off, they are dealing with the poor economic data just like everyone else. On the other hand, the company produced a wider than expected loss on the last earnings report. With that said, it’s still in the red today. Currently (12:29), PLUG is trading at $2.61 per share after a loss of 0.72% so far.

Outlook – If you follow my work, you know that I do not invest in stocks without a proven history of generating profits. That being said, this stock falls into that category.

What Are Your Thoughts?

Do you have an opinion on any of the stocks mentioned here? If so, we’d love to read it in the comments below!

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Hey, Im Joshua, the founder of CNA Finance. I enjoy following the trends in the market and finding the catalysts that are making the moves. If you want to get in contact with me, leave a comment below or email me at CNAFinanceHelp@gmail.com Please keep in mind that I am not an investment advisor and nor is CNA Finance. This is a news and information gathering outlet. We may work directly with some of the companies that we write about. If we have a business relationship with an issuer, we will mention that in the articles. We also have various affiliate relationships with advertisers and may be paid if you sign up for a service that you were referred to through our website.

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