April 20, 2021
The pandemic fueled growth in lots of different technology sectors, but it remains to be seen how permanent these changes are. Technology acceleration was high: FactSet expects earnings growth to jump 22% in Q1 2021 as compared to the same quarter last year. But after the pandemic fades which industries will remain? E-commerce companies like Amazon, Pinterest, and Etsy will likely stick around as many shopping patterns have changed permanently. Companies like Zoom and video companies will taper off as the workplace returns to normal. However, hardware and cloud computing will likely retain strong earnings given trends. Finally, chip manufacturing is still running shortages but Nvidia, AMD, and Qualcomm will have pent-up demand for the foreseeable future.
FINSUM + Magnifi: Technology won’t be the universal rising force it was in the pandemic but many companies will continue to outperform in 2021.
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