Unlike stocks of many other tech giants, IBM has held up well.
(Photo: dpa)
san francisco Technology stocks had a tough time in 2022. After years of unchecked growth, the US Federal Reserve’s interest rate offensive to combat inflation brought a rude awakening. At the end of 2021 it became apparent that the sales boom in the tech industry had reached its zenith. Seven rate hikes by the US Federal Reserve finished off tech stocks. Now the Fed is hinting there could be more in 2023.
Not only windy stocks feel the pressure. Investors also withdrew from the crème de la crème of the tech industry: Apple, Microsoft, Alphabet (Google), Tesla, Nvidia, Meta (Facebook), Amazon and Netflix lost a good 4.8 trillion dollars in market value over the year .
But the burglary did not happen everywhere. Stock exchange grandfather IBM blossomed into the winner of the crisis. The group has had to radically reinvent itself more than once in its 113-year history – and it has succeeded again.
Acquisition of Red Hat
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