<<Published March 18, 2023 by Philip Elmer-DeWitt

SVB's pain, Apple's gain

"If you’re looking for the security of cash, big tech has it in spades."

From Teresa Rivas' "Why Bank Blowups Have Been Good News for Apple Stock and the Rest of Big Tech" posted Friday by Barron's:

. . . .

SVB Financial SVB Financial Group‘s troubles might have kicked off the latest round of stock market woes, but despite the lender’s ties to Silicon Valley, the tech sector has been remarkably resilient during the selloff.

That’s evident any way you slice it... The tech-stock index has climbed nearly 16% year to date, helped by its January rally, compared with just over 3% for the S&P 500...

The biggest tech companies have performed similarly. Shares of poster child Apple have risen 3.8% over the past five days, putting the stock up 25% so far in 2023; Microsoft is up 9.9% and 15.3% over those periods. Likewise Google parent Alphabet‘s stock is up 8.8% this week and 12.6% this year.

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https://www.ped30.com/2023/03/18/apple-svb-pain-gain/