Daily Brief - A smash quarter for MSFT and GOOGL, but under the surface... (Oct 28, 2021)
Long live the tech boom forever.
MSFT and GOOGL announced blockbuster revenues for the quarter, bringing home $110bn between the two - a combined growth of 33 per cent on last year’s third quarter.
Underpinning the revenues there were both lockdown and post-lockdown effects: if Microsoft benefited from higher cloud demand, Google ad revenues rebounded on increased travelling and retail.
So has the market killed any Value idea? Are there no rock-bottom stocks anymore? Is Buffet flying away to write cooking guides? Is this The Time Of Growth And Momentum (TOGAM ©)?
In my time, we used to have value ideas
The composition of the bull market has been extremely skewed during the last few years, and recently in particular. Whilst Tesla reaches new highs, TOGGLE observes 160+ US stocks at rock bottom valuations, 200+ oversold stocks during the current month and 300+ stocks rebounding off their all-time-lows. Not bad, huh?!
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