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Tech stocks just finished a five-week rally — the longest stretch since market peak in November 2021



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Tech stocks on display at the Nasdaq.Peter Kramer | CNBCThe Nasdaq just wrapped up its fifth straight week of gains, jumping 3.3% over the last five days. It’s the longest weekly winning streak for the tech-laden index since a stretch that ended in November 2021. Coming off its worst year since 2008, the Nasdaq is up 15% to start 2023.The last time tech stocks enjoyed a rally this long, investors were gearing up for electric carmaker Rivian’s blockbuster IPO, the U.S. economy was closing out its strongest year for growth since 1984, and the Nasdaq was trading at a record.related investing news 5 hours ago This time around, there’s far less champagne popping. Cost cuts have replaced growth on Wall Street’s checklist, and tech executives are being celebrated for efficiency over innovation. The IPO market is dead. Layoffs are abundant.Earnings reports were the story of the week, with results landing from many of the world’s most valuable tech companies. But the numbers, for the most part, weren’t good.Apple missed estimates for the first time since 2016, Facebook parent Meta recorded a third straight quarter of declining revenue, Google’s core advertising business shrank, and Amazon closed out its weakest year for growth in its 25-year history as a public company.While investors had mixed reactions to the individual reports, all four stocks closed the week with solid gains, as did Mi …

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