SoftRatty: Market improves for tech firms.even for Yahoo!

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Market improves for tech firms.even for Yahoo!

2008-10-14 07:34:24 by Sardar Mohkim Khan in Startup Meme

Shareholders of major companies must have bitten their fingers off in the severe fall over the last two weeks as stocks kept plummeting. However the Sun has dawned with hopes and a much needed recovery. The day closed in on a healthy note as the technology division saw an overall 12% rise and the Nasdaq Internet Index rose by 11%.

We have been reporting the rapid and more importantly a continuous fall in the share rate for the technology firms in the last week. With Apple falling as low as $89 a share and Yahoo heading towards single digits, it appeared that the economic slump would have Google sliding into its hole as well as share prices fell to a record low of $350 a share. I for one had been on the low side thinking if firms would recover from such denting.

According to reports, the stock condition for each firm has improved by a great margin (compared to the losses recently) with Google jumping closer to its $400 mark (at $381 a share), while Apple hiked over $110 from the reported low of $89. The names are few but the current improvement should in no way take our eyes off the situation that has been created with the economic crisis.

What I think is that firms will be seeing spikes along the share rate chart over time and the main objective at present would be a stable share rate or a slow and steady rise. The sudden boom should in no way be an excuse to relax for the tech world and they should set themselves at preparing for anything, just in case there is an axe set to strike their necks.