Tech Predictions For 2023
Without a doubt, 2022 was a disaster for tech stock investors. The Technology Select Sector SPDR Fund is on course to end the year down more than 28%, but investors are looking ahead to 2023, hoping for a new wave of tech stock.
DataTrek Research recently compiled a list of 10 audacious tech sector forecasts for 2023 that could affect the market. Here are seven interesting predictions for tech stock investors to think about.
1. Apple, Inc. will ban the social media platform TikTok from its App Store
According to CNBC, a media executive predicts that Apple will fire China-owned TikTok in 2023.
Florida Senator Marco Rubio has sponsored a bipartisan measure to outright prohibit TikTok in the United States, and Apple eliminating TikTok will undoubtedly benefit Meta Platforms Inc, Snap Inc, and other social media.
2. Netflix will merge with another company
According to two different media executives, Netflix will agree to a significant media merger before the end of 2023.
According to one executive, Netflix will merge with Paramount Global, while another believes Netflix will merge with Walt Disney Co to build a streaming video behemoth.
3. YouTube will acquire the rights to the NFL’s Sunday Ticket
The NFL had not announced a bidder for its “Sunday Ticket” out-of-market Sunday afternoon package for the 2023-2024 season and beyond as of December 21.
According to one media executive, Alphabet, Inc. will announce a deal to buy Sunday Ticket rights for its YouTube platform, although Amazon is also allegedly interested in Sunday Ticket.
4. Cryptocurrency and Web3 carnage will continue
The so-called 2022 crypto winter has caused Bitcoin and Ethereum values to drop by approximately two-thirds.
Crypto winter has resulted in several high-profile Web3 bankruptcies, including FTX, Terra Luna, and Celsius, and the Verge predicts that rising interest rates and a potential 2023 recession will fuel a wave of Web3 business failures.
5. The metaverse will play a bigger role in e-commerce
Forbes predicts the metaverse will become more important in online purchasing by 2023, including the prospect of online shopping avatars and fully immersive shopping environments, in a compilation of 2023 tech trend forecasts.
If the metaverse becomes a fundamental element of the huge e-commerce sector, metaverse technology giants such as Meta Platforms, NVIDIA Corporation, and Advanced Micro Devices, Inc. could benefit greatly.
6. Computer vision and deep learning technology will optimize global supply chains
Amazon.com, Inc. CTO Werner Vogels has projected that technologies such as driverless trucks, autonomous warehouse technology, and software simulations could help modernize supply networks in 2023, following more than a year of global supply chain challenges.
Amazon will almost certainly lead the way in supply chain efficiency, but it may also impact traditional retailers like Walmart Inc and legacy delivery providers like FedEx Corporation.
7. AI will continue to grow and consume massive amounts of energy
According to Gartner’s 2023 tech projections, artificial intelligence technologies will consume more energy globally than the whole human workforce by 2025.
That increase is good news for leading AI technology companies like Microsoft Corp, but it could also be good news for legacy energy companies like Exxon Mobil Corp and alternative energy companies like Enphase Energy Inc.
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