Cyrus Mewawalla: Big Tech Stocks Expected to Benefit From Metaverse & Crypto
Big U.S. tech stocks will bypass inflation and keep rising in 2022 thanks to several emerging technologies, according to Cyrus Mewawalla.
Mewawalla, the chief of sectoral research & consultancy firm at GlobalData, says, “Tech stocks expected to make the most out of the metaverse, Web 3.0, cryptocurrencies and quantum computing.” He added, “Large U.S. tech firms will brush aside inflation and will continue surging this year. All credits go to the emerging technologies.”
“Big Tech Analyst will benefit from the metaverse, Web 3.0, cryptocurrencies and quantum computing provided they maneuver in that area,” says Mewawalla to “Street Signs Europe” on Monday.
He added, “You will for sure benefit in that space irrespective of macroeconomic issues.”
Big Tech Analysts Investing in Metaverse: Benefits Expected
Big Tech firms show enhanced interest in investing billions into new technologies. Because according to them, these new technologies possess the potential to change the structural way of life & work.
Towards the end of 2021, Facebook changed its name to Meta.
This was done just to consider its focus on metaverse. Metaverse – a virtual world where humans could connect digitally. The interactions could be managed through virtual reality headsets such as Oculus.
A handful of big tech analysts are enquiring & investigating commercial applications for quantum computers. Until now, most of them have announced nothing on Web 3.0 – acclaimed to be the internet’s next version.
Meanwhile, Meta is up with its forethought to launch a cryptocurrency called Diem.
Apple – a Giant Tech Claims its Deterrent
In the past week, Apple witnessed a rise in its value to more than $3 trillion. This rise in value made it the most relevant U.S. stock ever & the biggest tech company globally. But as per Mewawalla the share value of iPhone makers is not expected to surge as much as some of the other Big Tech firms this year.
He added, “Apple is improbable to grow from here in the genre of valuation. Apple possesses a very strong ecosystem with very strong execution. Hence, I think it won’t be easy to manage its downside risk. And other giant tech stocks have more upside potential as compared to Apple.”