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Tech Takes the Lead to Kick Off the Week

Posted January 23, 2023

Ray Blanco

By Ray Blanco

Tech Takes the Lead to Kick Off the Week

It’s a new week and we’re already being treated to some more green in the market today. 

This time, the tech-heavy Nasdaq led the charge higher, with a gain of around 2%. 

chart

On this heat map, you can see that a lot of the gains were concentrated in semiconductor names. 

This is great to see given the rough year semiconductors in particular had in 2022. 

In fact, semiconductor names continue to look better and better in 2023 with the VanEck Semiconductor ETF (NASDAQ: SMH) jumping above $230 and up over 17% so far this year. 

If this action keeps up it could trigger a technical end to the semiconductor bear market and kick off yet another momentum move. 

That would give even more validity to the AI story unfolding right now as the tech gains popularity and more use cases every day. 

Cryptocurrency also continues its climb this week, adding another positive for the semiconductor industry.

We’re at an important pivot point for semiconductors right now, will this move continue ripping higher or will it fizzle out before anything substantial builds? Time will tell, but things are looking good right now. 

With that, read below for everything I have my eye on this week…

tpd-1-layoff

Tech Layoffs Unwind Recent Head-Count Growth, Torpedo Long-Shot Projects

Tens of thousands of cuts have made only a dent in jobs added amid the pandemic. Read more…

tpd-2-robot

Arm-Based Chips Make Inroads With Apple, Amazon

British chip-design company puts pressure on Intel while preparing for IPO. Read more…

tpd-3-chatrgpt

Microsoft Confirms it’s Investing Billions in the Creator of ChatGPT

Microsoft on Monday confirmed it is making a “multibillion dollar” investment in OpenAI, the company behind the viral new AI chatbot tool called ChatGPT. Read more…

tpd-4-bubble

How Big Tech’s Pandemic Bubble Burst

Big Tech’s rapid growth during the pandemic-era bull market only ended in wave after wave of layoffs. Read more…

tpd-5-charger

With More EVs Come More At-Home Charging Options

A range of companies are trying to capture a piece of this growing market. Read more…

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