Job cuts from Amazon and Salesforce are the first step in staging a turnaround for tech that will see the sector jump 20% in 2023, Wedbush says

Jan 5 2023 by Business Insider

 

Reuters

Recent job cuts from Amazon and Salesforce represent the first necessary step in staging a turnaround for tech stocks, according to Wedbush."Investors want these management teams to get ahead of the storm and preserve margins and the bottom-line," Wedbush said.Wedbush expects the tech sector to deliver a 20% gain in 2023 despite economic uncertainty.

Recent job cuts at Amazon and Salesforce represent the first necessary step in staging a turnaround for the technology sector, according...

Continue Reading Job cuts from Amazon and Salesforce are the first step in staging a turnaround for tech that will see the sector jump 20% in 2023, Wedbush says