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☆ After a rough third quarter, here's what to expect from technology stocks into the end of 2023
  + stars: | 2023-10-01 | by ( Samantha Subin | ) www.cnbc.com   time to read: +8 min
2023's surge in technology stocks fizzled in September as rising rates put a heavy dent in the artificial intelligence-fueled rally . Over the next few weeks, Deepwater Asset Management's Gene Munster is keeping an eye on September's consumer price index and nonfarm payrolls report ahead of the start of big technology earnings later in the month. "The good news is that this should right itself once the September quarter earnings come up." Sean Sun, a portfolio manager at Thornburg Investment Management, likened the earnings season to a "gut check" on AI beneficiaries. But these drawdowns could offer opportunities for long-term investors to snatch up technology bets at bargain prices, said Nancy Tengler.
Persons: what's, behemoths, Street's, Gene Munster, Erika Klauer, Sean Sun, Paul Meeks, Nancy Tengler, Meeks, Klauer Organizations: Nasdaq, Reserve, Enphase, Lucid, ASML, Netflix, Apple, Microsoft, Devices, Nvidia, Tech, Thornburg Investment Management, Laffer, Investments, ServiceNow, Adobe, Broadcom, Oracle, Meta, Jennison, AMD
☆ Analysis: Biotech IPOs to bloom with spotlight on startups with human trial data
  + stars: | 2023-02-13 | by ( Amruta Khandekar Bhanvi Satija | Amruta Khandekar | Bhanvi Satija | ) www.reuters.com   time to read: +5 min
Globally, IPOs across all sectors nosedived last year after a blockbuster 2021, as aggressive interest rate hikes by central banks to curb inflation put an end to the era of cheap money. In the biotech sector, there were only 47 IPOs last year that raised a total of about $4 billion, compared with 152 offerings in 2021 that had raised over $25 billion. While the XBI is still trading 50% below its February 2021 closing high, analysts believe the downturn in biotech has bottomed out. All we need is one or two biotech IPOs to get good interest and the floodgates will open." Reuters GraphicsThe second half of 2023 is more likely to see a significant step-up in biotech IPOs instead of the first half, as markets await further clarity on potential rate cuts, analysts said.
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