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The Metaverse, Crypto and EVs Are Among 2021s Big Tech Winners

(bloomberg) – When Americans gather around the Thanksgiving table this week, the breakneck rally in tech, electric vehicles and crypto-related stocks is likely to be part of their conversations.

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Reading: The evs are big tech winners

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    there’s a reason it’ll dominate small talk: the tech-heavy nasdaq 100 is now worth nearly half the benchmark s&p 500, the highest ever, and tech stocks mega-caps alone account for a third of the s& ;p 500. nvidia corp. and roblox corp sprint. stood out in a year in which the rest of the big tech names raced to new highs, defying several calls to sell the sector around Thanksgiving last year due to soaring valuations.

    here are some of the hottest actions and topics since last thanksgiving:

    hot chips

    Chipmaker nvidia has soared 148% as booming chip demand and a foray into the metaverse made it the top performer on the nasdaq 100.applied materials inc. and advanced micro devices inc. were other winners, each up around 80% and outperforming many of the large-cap tech stocks.

    See also: Etsy acquires Elo7, known as the Etsy of Brazil, for 217M – TechCrunch

    rising ev creators

    tesla inc. soared to a market value of $1 trillion as the electric carmaker’s shares doubled in value, buoyed by a sustained rise in sales even as parts shortages were crippling the broader auto industry. The EV rush was even more apparent with Rivian Automotive Inc., which doubled in value in less than two weeks after going public. lucid group inc. was the other hot name in the industry.

    metaverse mania

    Roblox’s tripling in value from its March listing to Facebook’s name change to Meta Platforms Inc. showed that the metaverse was the next big thing in technology. The rush for space was evident with the Roundhill Ball Metaverse ETF, a topic-focused exchange-traded fund, passing $500 million in assets under management on Nov. 1. 17, having doubled in just two weeks.

    craze for cryptocurrencies

    From the digital world to digital money: Bitcoin briefly regained $60,000 and a rally in smaller cryptocurrencies propelled a slew of related stocks including Marathon Digital Holdings Inc., Riot Blockchain Inc. and microstrategy inc. marathon digital was among the top gainers, with its shares soaring tenfold.

    don’t forget faangs

    Retail investors who snapped up the big names haven’t fared too badly either. The likes of Microsoft Corp., Alphabet Inc. and tesla inc., only added a whopping $3.5 trillion in 2021, while the nyse fang+ index is up roughly 39% since last thanksgiving.

    While those numbers are impressive, some say the valuations seem exaggerated. Tech stocks haven’t been this expensive since the internet bubble of the late 1990s, and many investors remain cautious.

    “let’s appreciate all the tremendous returns we’ve seen in tech stocks and many other areas of the market this year, but let’s not forget that a humble slice of cake may be what we eat next year if we’re too confident in our predictions to the future,” said matt carvalho, chief investment officer at cardinal point wealth.

    tech chart of the day

    See also: Microsoft (MSFT) Q4 2022 Earnings Call Transcript | The Motley Fool

    featured technology news

    • India’s paytm tumbled for the second day after its initial public offering, marking one of the worst debuts for a major technology company

      prosus said analysts have valued its global portfolio of e-commerce assets at around $50 billion, excluding the tencent stake

      jd.com inc. and msci tracking by netease inc. through its hong kong stocks rather than us depository receipts could reinforce a gradual shift in liquidity out of the us. uu. for Chinese stocks

      contemporary amperex, a supplier of tesla batteries, hit a new record to become china’s second largest listed company on land

      activision blizzard’s CEO said he would consider leaving if he can’t quickly fix cultural issues, dow jones reported

      ericsson to buy vonage stakes for $5.3bn in its effort to grow its presence in the cloud communications services market

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