Tag: Chapter

Tech stocks can soar another 25% during ‘next chapter’ of economic recovery, Wedbush analyst says



a person standing in front of a store: A view outside Nasdaq in Times Square during the Coronavirus pandemic on March 31, 2020 in New York City. Noam Galai/Getty Images


© Noam Galai/Getty Images
A view outside Nasdaq in Times Square during the Coronavirus pandemic on March 31, 2020 in New York City. Noam Galai/Getty Images

  • Tech stocks rallied through the first phase of recovery, and the second bout of improvement is only just beginning, Wedbush analyst Dan Ives said Friday.
  • A steady economic bounce-back through 2021 will improve the sector’s fundamentals and growth paths, the analyst said, particularly for firms well-positioned for nationwide reopening.
  • This “next chapter” can drive tech stocks another 20% to 25% higher, according to Wedbush.
  • Pandemic-driven growth themes around the tech sector “are unprecedented and not comparable to anything I have seen as a tech analyst on the Street for two decades,” Ives added.
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After tech stocks led indexes to record highs and faced outsized selling, the sector is poised for another blockbuster rally, according to Wedbush

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Chef to be acquired for $220M by Progress in ‘next chapter’ for Seattle automation tech company

Chef CEO Barry Crist. (GeekWire File Photo / Todd Bishop)

Updated below with details from interview with Chef CEO Barry Crist.

Business application platform Progress will acquire Seattle-based automation technology company Chef for $220 million in cash under a deal announced Tuesday.

It’s a major turn of events for a company that has been a mainstay of the Pacific Northwest tech community for more than a decade. Progress, based in Bedford, Mass., is publicly traded on the Nasdaq. The acquisition “will provide the scale to further drive Chef’s platform forward and deliver additional value to our customers,” said Chef CEO Barry Crist in a statement about the deal.

Progress CEO Yogesh Gupta

Chef raised more than $100 million in funding over its lifetime as a private company from investors including Battery Ventures, Citi Ventures, DFJ, Ignition Partners, and Hewlett Packard Ventures. The 270-person company, founded in 2008 as Opscode, focused

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ITRI and Czech Republic Embark on New Chapter in Technology Diplomacy

HSINCHU, Taiwan, Sept. 02, 2020 (GLOBE NEWSWIRE) — An 89-memebr Czech delegation led by Senate President Miloš Vystrčil made a visit to the Industrial Technology Research Institute (ITRI) today in Hsinchu, where the delegation will learn about ITRI’s accomplishments in biomedical and pandemic prevention technologies, groundbreaking innovation-oriented R&D, and industrialization of research results. ITRI is the only R&D organization that Senate President Vystrčil has visited during his stay, which highlights the significance of ITRI’s role in technology diplomacy between Taiwan and the Czech Republic. The visit is expected to engage both sides in more technological cooperation based on their complementary strengths. Moreover, by leveraging the Czech Republic’s network in the EU, ITRI hopes to assist Taiwan industry in tapping into Europe’s innovation ecosystem and exploring new opportunities there.

ITRI President Edwin Liu welcomed the delegation’s visit with a Confucius’ quote, “It is a great pleasure to have friends coming from

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