It might not be a case of going from zero to hero, but the tech sector is rebounding smartly in 2023 following its drubbing last year. As investors shifted to more defensive positions, the sector tumbled hard, and many previous highfliers were in the dumps. Sure, the new year is just one month old, but the gains are a welcome reprieve for many investors.
First is cybersecurity firm CrowdStrike (NASDAQ: CRWD). Most businesses' cybersecurity solutions must be beefed up in the coming years, and CrowdStrike will significantly benefit from this spending wave. CrowdStrike also converts a high percentage of its revenue into free cash flow (FCF), posting a 30% margin in Q3 FY 2023 (ending Oct. 31).
(Bloomberg) -- From Intel Corp. to SK Hynix Inc., some of the world’s largest semiconductor makers stunned investors with brutal losses heading into 2023. But two Asian companies — Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. — navigated the turmoil with greater agility, underlining a changing of the guard.Most Read from BloombergMerck Covid Drug Linked to New Virus Mutations, Study SaysWhat You Need to Know About the Chinese Spy Balloon Floating Over the USAdani Crisis Dee