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US Technology Stocks Are Expected To Be Objective

2012/3/9 16:10:00 19

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The global economic slowdown and the high peak of debt repayment in Europe will bring haze to the global stock market.

In order to maintain moderate economic growth and avoid falling into recession, many countries in the world continue to maintain low interest monetary policy to increase market liquidity.

Benefiting from the brilliant performance in the fourth quarter of the US technology companies, plus the abundant market funds and the turnaround of the Greek debt problem, the US stock market has been significantly improved, and the US NASDAQ index, which tracks the technology stocks, has reached a new high of 11 years.

believe

Under the continuous growth of demand for global technology products and related expenses, the outlook for us technology stocks can still be seen at a high level.

Slowing global economic growth

In the updated version of the global economic outlook released at the end of January, the International Monetary Fund (IMF) predicted that this year's global economic growth will be reduced to 3.3%, 0.7 percentage points lower than that of last September, and that global economic activity will only slow down and not collapse, and that most developed economies can avoid double dip recession. It is expected that the developed economies will grow by 1.2% and 1.9% respectively in the current and the next two years, and the US economy could grow by 1.8% this year, consistent with the previous forecast.

Developing economies will grow by 5.4% and 5.9% in the next two years.

However, IMF warned at the same time if EU leaders could not respond as soon as possible.

European debt

The crisis has made practical action, and the global economic growth has slowed down further.

The pressure of financing between euro zone countries and banks has created a more vicious cycle, which may force the banking industry to carry out more large-scale and long-term deleveraging, resulting in a sharp contraction in credit and economy.

In view of the rapid deterioration of the European debt crisis in the last quarter, IMF estimates that the local economy is likely to fall into a slight recession this year, or shrink by 0.5%, a 1.6 percentage point reduction from the previous forecast.

Two of the European pig countries, Italy and Spain, have been lowered by 2.5 and 2.8 percentage points this year, and the recession is expected to continue until 2013.

Multinational policy of maintaining low interest rates

Facing the global economic slowdown, many developed countries all over the world advocate maintaining or even pushing loose monetary policy to increase market liquidity.

Despite recent economic data in the US, the Fed is still worried about the economic recovery and has decided to extend the ultra low interest policy until 2014.

After the meeting, President Bernanke announced that the promise to maintain the near zero interest rate period was postponed from 18 months to the end of 2014 in the early next year. At the same time, the long term annual inflation target was set at 2%, and the conditions for the launch of the third round of quantitative easing (QE3) were set out.

Bernanke said that although the US economy has shown moderate growth in recent weeks, if the unemployment rate falls too slowly and inflation is lower than the official target, the authorities will be more likely to take more stimulus actions.

Because the Fed has shown a dovish stance, the market is increasingly looking forward to QE3 coming soon in the second quarter.

In addition to the US's policy of maintaining a low interest rate, the United Kingdom and

Japan

There are similar actions, and even the expansion of loose monetary policy.

Reduced by 1.2% of industrial production, the UK's GDP fell by 0.2% in the fourth quarter of last year, which was worse than market expectations and worried that the local economy was on the verge of recession. GDP

Therefore, the Bank of England announced in early February that it will continue to implement quantitative easing policy, expand its size to 50 billion pounds to 325 billion pounds, and decided to maintain the current benchmark interest rate of 0.5% unchanged.

In fact, the Bank of England has been keeping its benchmark interest rate at a low level of 0.5% since March 2009. It has begun to implement quantitative easing policy and has injected liquidity into the local economy by buying assets, so as to further stimulate economic growth.

In order to reverse the economic downturn, the Central Bank of Japan has also increased the size of the purchase assets from 55 trillion yen to 65 trillion yen, of which the loan scale remains unchanged, accounting for 35 trillion yen, while the remaining 30 trillion yen is used for the purchase of government bonds.

The growth is partly for the purchase of long-term government bonds, which may prompt the central bank to hold government debt from 9 trillion yen to 19 trillion yen.

At the same time, the bank maintains a range of interest rates ranging from 0 to 0.1.

Greek cut plan

On the other side, the main factor in the development of global stock market is whether the European debt crisis can be controlled in addition to the global economic outlook.

Earlier, EU financial affairs commissioner Ryan had announced that the size and terms of the 130 billion euro second round Greek aid package, which was reassessed in October last year, may require additional aid from the euro zone governments, and urged the US and other countries not to obstruct the IMF's capital increase plan.

As Greece's debt problem is at stake, the European Central Bank has agreed to make a big concession to replace the Greek treasury bonds borrowed from the secondary market with new ones.

This shows that under the direction of President Delagi, the bank is willing to take part in the Greek debt restructuring than expected. It will help Greece speed up its second round of international aid.

With the adoption of the Greek chipping scheme, and the EU's suggestion that Greece would be helped to temporarily eliminate the threat of default, the news stimulated the US and European stock markets to rise. The US NASDAQ index, which tracked the technology stocks, hit a 11 year high. The Dow Jones index and the S & P 500 index hit 4 and 9 months respectively.

Technology stocks are brilliant.

The US NASDAQ index has reached a new high. In addition to the brilliant performance of US technology stocks in the fourth quarter of last year, several global investment tycoons recently held large US technology stocks in the fourth quarter of last year, all of which are favorable to the trend of US technology stocks.

The industry leader Apple Corp announced its first quarter results in fiscal year 2012, benefiting from sales of its smartphones iPhone and tablet iPad and other products exceeding the market expectations. The operating income and net profit during the period were as high as $46 billion 300 million and $13 billion 100 million respectively, rising by 73% and 118% on a year by year, and creating a record high of Shi Xingao, which had stimulated its stock price to rise by more than 500 US dollars.

Among other technology giants, the latest quarterly performance of Intel and Microsoft is also better than expected due to the huge demand for products and services from technology companies.

In addition, according to the regulatory documents released in the middle of February, Buffett, a company controlled by the stock god, increased Intel and international Business Machines Corp (IBM) in the fourth quarter, while Soros's fund management company, which is at the helm of Soros, continued to buy Google.

Moreover, Facebook, the largest social networking site in the world, is preparing to go public. It can be said that it is attracting worldwide attention and has the opportunity to drive the relevant information services and technology stocks.

In view of the ideal growth of corporate profits, strong balance sheet and sufficient cash, technology leading enterprises have gained more institutional investors' favor, and the market's worries about the European debt crisis have subsided, prompting capital to flow into the venture capital market again.