The next bear market is already upon us (or soon will be). The tech-heavy Nasdaq Composite is down 28% year to date, while the S&P 500 index is down 17.3%. A bear market is generally described as a situation where the market falls by 20% or more from its previous high for a sustained period.
Today's video focuses on Meta Platforms (NASDAQ: FB), Taiwan Semiconductor Manufacturing (NYSE: TSM), Shopify (NYSE: SHOP), and Qualcomm (NASDAQ: QCOM). All four companies provide solutions for emerging markets, and in the video, I describe some of the growth opportunities, including the metaverse, e-commerce, data centers, and autonomous systems.
Shares of Shopify (NYSE: SHOP) were sliding today as the e-commerce software company was one of several tech stocks to fall in sympathy with Snap (NYSE: SNAP), which warned that second-quarter results would come in below its earlier guidance and blamed a deteriorating macroeconomic environment for the downward revision. As of 1:35 p.m. ET, Shopify stock was down 10.4%, while Snap had plunged 41.9% at the same time.