The Technology Imperative

Check out the accompanying pdf and chart collection. (1) Technology rules the business world. (2) We are all in the cloud now. (3) Tech still accounts for a quarter of S&P 500’s market cap and a fifth of its earnings. (4) Tech is more powerful, more useful, and cheaper than ever. (5) S&P 500 excluding Tech and excluding the Mag-5. (6) A few examples of low-tech companies using high-tech to boost profit margins. (7) The proof is in the profit margins and spending on tech. (8) A word of caution. (9) Value’s turn to outperform for a while. (10) Cryptocurrencies: nothing to fear but government bans. (11) Tulips and dotcoms..