Assessing the outlook for Pure Storage in a recessionary environment Why look at Pure Storage (PSTG) shares now? There are an abundance of investment opportunities within the high growth IT environment. Some readers and commentators, I suppose, will say that this is a function of the relative valuation of a bubble valuation, and the valuation…
MS
Last week was another disappointing week for the markets in general, and for IT names in particular. Although our high-growth portfolio did manage to appreciate by 1.8%, it is still down by more than 25% so far this year, and by 21% since 8/20/21. Those results are more or less consistent with the overall tech ETF, the IGV, which lost 2% last week and has lost about 20% since the start of the year, and 22% since last August. The World Cloud ETF broke even last week, but it has lost 26% since the start of the year and has lost 32% since August 20th of last year.
Morgan Stanley upgraded the shares of ANET on Monday. The shares responded-sort of-they were up by 3.6% although that was not a particularly strong performance given the overall market for high growth IT names, several of which, such as Alteryx and Twilio appreciated by more than 8%. ANET has been a poor performer, even relative…