SAN FRANCISCO (CNN/Money) - After an awful 2000, many tech-stock investors thought for sure 2001 couldn't be worse. Technically, they were right. As of Dec 26, the Nasdaq composite index was down only 20 percent, compared with the 39 percent swoon the previous year.|
But the news was grim again, as the collapse of the telecommunications sector, the Sept. 11 tragedy, a war, the fall of Enron and other calamities all weighed down an already ailing technology industry.
And for 2002? Each year I take a light-hearted stab at predicting what the coming year holds. When I tried this exercise last year for TheStreet.com, I did alright, calling that neither Merrill Lynch's Henry Blodget nor Yahoo's Tim Koogle would keep their jobs for all of 2001, and that shares of Microsoft would outpace AOL, Intel, Cisco and Sun. Unfortunately, I blew the big macro call, predicting that the Nasdaq would gain 8 percent in 2001.
But enough of the past: Let's get on with my predictions for Y2K plus two.
Happy New Year!