Thursday/ big tech earnings day

I remember the days in 2002-2003 when the NASDAQ Composite Index fell down to below 2,000, from its peak of 5,000 .. wondering, what will this graph look like 10 years from now? And know we know. It took 15 years to get back to 5,000!

Thursday was a big day for the earnings reports of technology companies, with Alphabet (parent company of Google), Amazon, Intel and Microsoft reporting earnings. (Apple and Facebook will report next week).

The share prices of both Alphabet ($908 as of Friday) and Amazon ($927 as of Friday) are now approaching $1,000.  Will that happen this year?  Time will tell. (Right now the US economy is only growing at 0.7%.  Most economists say it would have to achieve 2% growth to drive the stock market higher by year end).

The NASDAQ composite index continues to make new highs. It crossed 6,000 on April 25. (Screen from CNBC program called ‘Closing Bell’).

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