Home / Business and Economy / ARK CEO: Tech Boom Will Trump High Rates
ARK CEO: Tech Boom Will Trump High Rates
22 Sep
Summary
- ARK Invest CEO predicts economic growth spurred by tech advancements.
- This growth is expected to make higher borrowing costs irrelevant.
- Chip and memory stocks saw declines in premarket trading.
ARK Invest CEO predicts a coming economic surge driven by rapid technological progress. This advancement is expected to diminish the impact of current higher borrowing costs.
Despite this optimistic forecast for future growth, the market saw chip and memory stocks slide in premarket trading. This follows a session where the Nasdaq Composite reached a record high, partly powered by these same sectors. Advanced Micro Devices briefly achieved a valuation exceeding $1 trillion.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
