Big Technology Podcast Does It Get Even Worse for Tech in 2023? — With Stephanie Link
Dec 14, 2022
Stephanie Link, Chief Investment Strategist at Hightower Advisors and CNBC contributor, shares her insights on the tech industry's rocky road in 2023. She discusses the impact of rising interest rates on stock valuations and highlights major players like Meta and Amazon maneuvering through economic turbulence. Link evaluates emerging trends in deglobalization and its implications for the market, particularly focusing on supply chain challenges faced by Apple and the evolving landscape of Tesla. Her expert analysis promises a thoughtful look into the future of technology investing.
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Stephanie Link's CNBC Journey
- Stephanie Link has been a CNBC contributor for over 12 years.
- She got her start by recapping Cisco's earnings and then was invited on other shows.
Tech's Declining S&P Weighting
- Tech stocks previously represented 38% of the S&P 500 but are now closer to 34%.
- Higher interest rates pose a problem for tech, which are considered long duration assets.
Tech's Overspending Problem
- Tech companies overhired and overspent, contributing to a tight labor market.
- They prioritized growth over margins, assuming strong demand would continue indefinitely.