The wreckage has been widespread.
Apple (AAPL) performed an 11.86% swan dive off its October high. Alphabet (GOOG) (GOOGL) pared back 10.67%. Facebook (FB) shed 15.03%. Amazon (AMZN) puked an astounding 16.35%.
Is technology dead? I don't think so, but to find out why not, you must read on.
President-elect Trump certainly made no secret of his displeasure with the tech sector, attacking several specifically by name.
He said he would demand that Apple manufacture its iPhones in the US, which would force it to raise prices fivefold. If iPhone production stays in China, it would be subject to Trump's 45% import duty.
He specified that Amazon, which accounted for 25% of the growth in retail sales this year, would have antitrust problems.
Facebook now finds itself squarely in the middle of the "fake news" scandal which the Trump campaign so adeptly mastered.
More than any other sector of the… Read More …