The slump hit the stock markets since the beginning of 2016 did not spare the new technology sector. For some of these companies, the fall in the share price is skyrocketing. years we remember the beginning of 2000, when a speculative bubble had burst around these businesses in the new economy. They too were assessed relative to their real potential. Risk do we witness the same phenomenon?
The social network LinkedIn is one of the most sensational examples of recent weeks. In one day, the stock has lost nearly 44% on the stock market.
It is also for the debacle Twitter, compared to the beginning of the stock exchange listing in 2013 action the company lost 65% of its value
Netflix or Amazon, as many companies of the new economy that does not impress or disappoint investors, explains Johan van der Biest, fund manager at Candriam “ for me, the biggest reason is that operating margins of some companies like Amazon, Twitter, LinkedIn are not very high, and even negative in some cases so whenever there is. doubt on revenue growth, these actions corrects many “
But compared to 2000, the situation changed. Companies in the information technology sector, it seems, often learned the lessons. Their business models are more serious advantage and can generate profits. Johan Van der Biest home Candriam: “The IT sector’s financial position is much healthier much as in 2000. There is no sector that operating margins as high as the IT sector So from. this view, I believe that there can be no bubble “
however, one may wonder about companies like Uber, estimated the value at $ 60 billion but which are not publicly traded and which is not known if it will generate profits in day sufficiency. In the current economic climate wrong, it will probably be difficult for these companies to find new money the day they need them. Johan Van der Biest: “In the current climate, it will be quite difficult to get money To take an example, the market for IPOs There are lots of companies that want to go public to look.. of capital. But a lot of these IPOs were postponed to a later date because of all terms, the current climate is not to say that we will invest like this “
in the current context, Yahoo or Google tomorrow will have very good ideas and be very convincing to persuade investors to follow them in their adventures.