The stock market price of the US gaming platform has also fallen and has become cheaper. It is therefore one of the tech stocks that are currently arousing the interest of professionals.
(Photo: Reuters)
Frankfurt The technology shares, which have been popular for years, are suffering massively from the high inflation in the western world and the change of course by the leading central banks. Nevertheless, analysts have already identified sectors and individual stocks that could soon be attractive again.
In the days after the US Federal Reserve’s significant interest rate hike of 0.5 percentage points just over a week ago, shares in the US technology index Nasdaq 100 lost around 1.5 trillion US dollars in value, according to figures from the financial data provider Bloomberg.
Since the beginning of the year, it has fallen by a good quarter, significantly more than the broad US stock index S&P500 with a minus of a good 17 percent. The German technology barometer TecDax fell by around 25 percent, more than ten percentage points more than the leading German index Dax.
A tighter monetary policy and thus higher capital market interest rates hit the growth stocks twice: their refinancing becomes more expensive. In addition, future company profits have to be discounted with higher interest rates, which depresses the valuation.
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