(Bloomberg Opinion) — The Covid-19 pandemic may have hurt the economy, but for technology stocks it feels like 1999 again. The Nasdaq Composite Index just reached a record high having rebounded about 50% from its low of the year in March. The stock market is not the economy, but it does feels strange for stocks to be soaring in the middle of a deep recession.The difference is timescale: stock prices represent revenue and earnings very far out into the future, not today. If plans for new technology are sound, the outlook can still look bright even though the present seems …read more
Source:: Yahoo Finance
