Business
Why ASX tech shares should fly long after this crisis is over // Motley Fool Australia
As the world cheered the announcement of 2 promising COVID-19 vaccines, a predictable shift occurred on the ASX and global share markets.
Technology shares – which broadly rocketed higher as the world locked down and people shifted to working, shopping and socialising from home – began to fall out of favour this past week.
Meanwhile, many value shares that remained beaten down by uncertainties over the coronavirus pandemic began to draw renewed investor interest.
The tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC), for example, has soared 30.9% higher so far in 2020. However, since the closing bell on Friday 6 November and the first vaccine announcement, the Nasdaq has gained a meagre 0.04%.
Compare that to the small-cap…
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