The tech sector has come under pressure with the recent U.S. market selloff, but a money manager expects some of these stocks will rebound in the coming months.
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Friend.tech crosses $50 mln in TVL – Here’s why the move mattersAlthough Friend.tech has experienced a dearth of new users in the past few weeks, its TVL has rallied to an all-time high.
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Big Tech 'the place to be’ to wait out economic risks: StrategistAmid market uncertainty over the past few months, eToro Global Markets Strategist Ben Lailder joins Yahoo Finance Live to discuss where the best 'buy low' opportunity is. “Big Tech is the place to be,” Lailder says. “This rally so far has all been about valuation. I think earnings need to pick up that baton. We’re going to see the end of the earnings recession, you know, coming in the third quarter results… it’s tech that’s going to lead you sort of out of that.' Laidler states that investors should be 'hiding out' in Big Tech if they are generally concerned about an impending economic slowdown or recession. He notes this prioritization as a 'changing narrative of the market' as investors worry less about valuations. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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EU lawmakers back tough media law against Big Tech’s content removal decisionsThe draft rules require online platforms to carry news content for 24 hours before taking it down if this breaches their content moderation rules
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Investing in self-driving tech: How to cash in on the trendIt's becoming increasingly common to see driverless cars on the road. The technology isn't perfect yet, but there are plenty of companies working on getting it there. No One at the Wheel: Driverless Cars and the Road of the Future author Samuel Schwartz and Wedbush Senior Equity Analyst Dan Ives share their thoughts on investing in the autonomous vehicle space. Schwartz highlights Alphabet's Waymo (GOOGL, GOOG) as being a company in the lead. Schwartz also points to General Motors' Cruise (GM), and Tesla (TSLA). However, Schwartz notes that one of the big problems for the industry is the 'lack of sharing of information and data,' which means 'we don't know enough about how these vehicles are performing.' Schwartz estimates that it could take another 20 years for driverless vehicles to handle dirt roads or mountain roads, given that these vehicles can't yet do everything that one with a driver can. Ives compares the rise of driverless vehicles to what we're seeing in AI in that there will be 'derivative plays.' Ives makes the case for Uber Technologies (UBER) as a potential play because he believes 'not just one of five, but potentially two of every five Ubers, end of decade, could be self-driving, autonomous.' Ives echoes Schwartz's comments about GM's Cruise unit, sayiing it is a 'significantly undervalues asset' at the automaker.
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Strong earnings will reverse decline in megacap tech stocks: Goldman SachsStrong upcoming earnings results could reverse the decline in mega-cap technology and growth stocks, which have been hammered by the rise in Treasury yields and are trading at their cheapest levels in six years by one measure, according to Goldman Sachs strategists. The so-called Magnificent Seven group of megacap stocks -Apple, Microsoft, Amazon.com, Alphabet, Nvidia, Tesla, and Meta Platforms - have fallen 7% over the last two months, compared with a 3% decline in the broad S&P 500, as Treasury yields jumped more than 60 basis points to 16-year highs. Those declines have pushed mega-cap forward price-to-earnings ratios down by a collective 20% over the last two months, leaving them trading at their largest discount to the market based on long-term growth since January 2017, Goldman Sachs said in a note dated Oct. 1.
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