Technology investors in general did not find much excitement over the past week, as much of the sector performed grimly on Wall Street, largely due to continuing fears of inflation and the possibility of the US economy turning to recession.
But there were still many things besides a big sale to attract attention throughout the technological universe.
Probably nothing was expected more closely than the appearance of Elon Musk in the so-called “town hall” on Twitter (NYSE:TWTR) employees on Thursday.
After more than a week of relative calm on the Musk-Twitter front, Tesla (TSLA) CEO says $ 44 billion he proposed on TwitterTWTR) the acquisition was not properly presented by the media and that he believes that TwitterTWTR) consumers must be able to use the platform to say some “pretty scandalous things.” Musk also said that Twitter (TWTR) needs to do a better job of not showing “boring” content to its users.
Most of the results from technology gains have been in the rearview mirror for some time, but that hasn’t stopped several notable leaders in the industry from presenting their latest quarterly reports.
oracle (NYSE:ORCL) reported that many analysts said the results were “solid” quarterly, and gave a forecast that made investors happy. So much so that on Tuesday Oracle (ORCL) shares ended with a profit of 8% during the day. However, Oracle (ORCL) the tails were not long enough to pull much the rest of the software sector along with it.
DocuSign (DOCU) was among the notable software dropouts as Wolfe Research analyst Alex Zukin downgraded the company’s stock with electronic signatures after his own disappointing quarterly report and forecast. Other cloud software stocks have also been found difficulties during the week.
apple (NASDAQ:AAPL) had a mixed week as it fell to a 52-week low of $ 129.04 on Thursday and reached $ 200B of falling below the market capitalization of $ 2T mark just a few months after becoming the first company in history to reach $ 3T in market value.
Netflix (NASDAQ:NFLX) saw a lot happening this week as Benchmark analyst Matthew Harrigan downgraded his TV streamer due to concerns about subscriber growth. However, the next day Netflix (NFLX) shares rose 7% as Cowen analyst John Blackledge said the company was imminent strong profits from future advertising subscription options.
And Netflix (NFLX) also showed that it is doubling one of its latest successes by announcing that it has commissioned second season of the hit show “Squid Game”and also a new reality series based on the Korean dystopian thriller.