Tech 5: Strong First-Quarter Flows for Technology Stocks

After a dizzying first quarter, Bitcoin spent the first week of the second quarter below the $70,000 mark.

Meanwhile, the Bank of America (BoA) Global Research has released data describing how robust the first-quarter rally was in the technology sector, and a strong but thankfully contained earthquake off the east coast of Taiwan underscored the impact that even a small interruption can have on global semiconductor manufacturing operations.

1. Larger Tertiary Flows for Technology Stocks

Data collected by BoA and reported by Reuters show that technology stocks recorded their third largest quarterly flows ever in the first quarter, with an incredible inflow of 18.6 billion dollars over the period.

2. Bitcoin Price Withdrawal

Bitcoin closed the month and quarter at around 71,300 dollars, up about 16.5 percent from the previous month.

3. Magnitude 7.4 earthquake

in Taiwan

On Wednesday, the east coast of Taiwan was hit by a 7.4 magnitude earthquake, followed by multiple aftershocks.

4. Tesla Reveals Plans for the Summer Release of Robotaxi

After Friday’s news that Tesla won’t release a 25,000 dollar electric vehicle, CEO Elon Musk announced on X, formerly known as Twitter, the next unveiling of Tesla’s Robotaxi on August 8.

5. Business and Technology Council Accepts Three Years of Additional Cooperation

The United States and the European Union (EU) concluded a two-day session of their Trade and Technology Council (TTC) in Belgium on Friday.

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