First Quarter 2023 Insights and ObservationsSubmitted by Corrigan Financial, Inc on May 7th, 2023
The demand for personal computers has softened, and chip makers are cutting production. The smartphone marketplace has basically peaked, as have the markets for wireless services and video streaming.
The largest technology stocks – Apple, Microsoft, Alphabet, and Amazon – grew a collective 1% in the fourth quarter of 2022. Revenues are stalling or on the decline, as the headlines speak of layoffs and efficiency instead of innovation and opportunity.