SPDR S&P Internet ETF [XWEB] Stock Forecast

Although the week's ETF news was dominated by ARK and 21Shares teaming up to launch five cryptocurrency-related ETFs, there were additional new ETFs from other firms, including Simplify, newcomer GMO, Amplify, SoFi, DWS, and Virtus.

Tech stocks, and consequently tech funds, typically suffer most from economic tightening and rising rates. Rate hikes make debt costlier, and most tech firms (especially smaller ones) rely heavily on leverage to fund operations and growth in lieu of actual earnings.

The beaten-down prices in the tech stocks offer a solid buying opportunity for investors.

Concerns over higher inflation and rising rates continued to weigh on investors' sentiments. This has provided a compelling opportunity for investors to buy cheap heading into 2023.

The beaten down prices compelled investors to grab the technology stocks on cheap.

Ten years ago, Marc Andreessen wrote an article in the WSJ called ‘Software is eating the world', arguing that there was a fundamental shift in the role that software plays in the economy. Now, there's a generation of companies that both create software and use it themselves to enter another industry, and often to change it.

The SPDR S&P Internet ETF (XWEB) has hit a new 52-week high. Are more gains in store?

The coronavirus outbreak notwithstanding, 2020 has been shaping up as a blockbuster year.

Returns in the space have been eye-popping.