The rate at which technology has been adopted in business and society has grown out of necessity, building up naturally yet aggressively as a result of the pandemic.
These technologies are meant to make our lives more efficient by supporting virtual work, growing e-commerce businesses, offering cybersecurity protection, optimizing through automation and much more.
The outcome: high tech asset valuations. Market adoption in this space, which is normally expected to take years, is happening much quicker. This has investors piling into Big Tech, namely Amazon.com (ticker: AMZN), Apple (AAPL), Alphabet (GOOG, GOOGL), Facebook (FB) and Microsoft Corp. (MSFT), because they want to get in on something with growth opportunities. A tech stock of this size can come with a hefty price tag. Amazon saw explosive growth over the last year and now costs around $3,100 per share.