The Frightful Five and Software Stock Breakouts Galore
This week flew by for me. The weather in Manhattan was fantastic and I probably walked 50 miles getting around town.
The markets had a big week. Again
So did Bitcoin. By Friday, the value of all the world’s Bitcoins surpassed the value of Goldman Sachs. I own them both.
The lack of volatility in the stock market continues to be the story.
I love this tweet from Joe Fahmy:
If a correction lasts longer than 4 hours, call your financial advisor.
One story that really caught on this week was New York Time’s ‘Frightful Five’ — about how Amazon, Google, Facebook, Apple and Microsoft are squeezing the life out of startups.
It’s a good read, but I think the bigger story is the China and what I call the ‘Frightfull Digital Wall’ — which allows China a never ending advantage to homegrown internet companies.
Meanwhile, the largest software stocks like Microsoft are creeping to new all-time highs daily.
Adobe actually exploded to new all-time highs.
In the enterprise software space, two favorites are lurking at or near all-time highs — Workday and Zendesk. They report earnings this week.
One enterprise stock that surged to all-time highs this week after earnings was Atlassian ($TEAM).
So, despite the Chinese digital wall and ‘Frightful Five’ the markets continue to provide tech and software winners….for now.
Originally published at Howard Lindzon.