May 16, 2023, 11:30 am EDT
Victory from Mega Technology
The first half of 2023 is getting closer to the finish line. The divergence between technology and other sectors is dramatic. While financial sectors suffered severely from the failures of regional banks (Silicon Valley Bank, Signature Bank, The First Republic, etc), commodities (oil, energy, material) also pulled back sharply.
But, the technology sector performed very well. The mega caps are especially outstanding, with many claiming a new high today. Top leaders like NVDA and META almost double their values within the six months of 2023.
2023 Year-To-Date (YTD) Performance
- NVDA : 100%
- META: 97%
- AMD: 57%
- AMZN: 35%
- GOOGL: 35%
- TSLA: 37%
- MSFT: 30%
The rise of Artificial Intelligence from ChaptGPT news could be the driving force. Both related hardware and software stocks got favored choices from investors.
This powerful move will continue as more development of AI is going on. Therefore, social networks, search engines, and semiconductors should be worth attention for the second half of 2023.