Bearish: Mega Tech Stocks To Get Whacked in 2023 | Ad Spending & Competition From Disney & Netflix
Channel: Stock Docta' Trading
Date: 2022-12-27

$goog $msft $nflx $dis #techSector #shorts 
Tech stocks took a beating this year, and some of the world's most valuable companies have seen their stock prices drop dramatically. Companies that a lot of people think of as technology companies are really just getting all their revenue from advertising now. Online advertising is about two thirds of the total, and they're not going to escape. If you go into an advertising recession, ran into COVID.
Every business had to get online. And so that led to a huge surge in spending on software products that let you do all that. Then you fast forward three years, you're not using these products. And companies, especially high tech companies, are laying off people. They're going to be working to account. Well, they don't need to support as many employees.
So I need less cloud services or things that count on consumption. And those are the high multiple types of companies. Amazon or Google or Microsoft Azure, I believe you're actually short at Google and even Amazon, which is down almost cut in half. But.

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