Tech’s lucky few virtually detach from economy

Shopify, Netflix, Amazon.com and Zoom Video Communications have all seen their stocks rise 30% or more since Jan. 1. Over the same time, the S&P 500 Index was down around 13% as of May 1.

Amazon.com reported first-quarter revenue of $75.5 billion on April 30, up 26% from a year ago. The same day, Apple said revenue grew 1% over the same period to $58.3 billion. Facebook reported revenue of $17.7 billion in the first quarter of 2020, up 18% year-on-year. And a day earlier, Google parent Alphabet reported a 13% increase in revenue to $41.2 billion.

ReutersBiz rob_cyran MANS soar but FAGs lag.

Reuters rob_cyran MANS

ReutersBiz rob_cyran All of those companies are extremely over valued right now. Shopify trades over 100 times earnings and continues to burn cash at alarming level, but in 2020 anything goes now apparently ...

rob_cyran SAMN boys, gotta think harder. there's always an acronym

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