Most Tech Stocks Had a Miserable Year. Not IBM.
For technology investors in 2022, anything that could go wrong did go wrong. But really, you should have seen it coming.
Arguably, a reversal in tech valuations was overdue. The
Nasdaq Composite
rallied 35% in 2019, 43% in 2020, and 21% in 2021. That’s a three-year combined jump of 136%, the largest move by technology shares since the inflation of the internet bubble took the tech-heavy index up 440% in the last five years of the 1990s.
Gloss