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The Economy Is Thriving But Tech Stocks Are Facing New Pressure – Barron’s

The latest batch of tech earnings reports makes it crystal clear that the economy is moving on from the pandemic. This isn’t to minimize the risks from the Covid-19 Delta variant. But mask mandates or not, Americans have had enough sheltering in place. The rush to leave home is having a material impact on a diverse set of tech businesses.

Let’s start with ride-sharing. Both Uber Technologies (ticker: UBER) and Lyft (LYFT) reported results this past week, and the numbers show that an impressive rebound is under way. June-quarter…