A tech stock bubble just like 2000 has burst, longtime tech CEO says [DailyFinance (AOL.com)]
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Source: DailyFinance
A tech stock bubble just like 2000 has burst, longtime tech CEO saysBrian SozziMay 13, 2022, 3:04 PMLongtime tech execPatrick SpenceAnd what he sees right now in the form of plunging values for tech stocks is something reminiscent of the tech bubble of 2000, when he was running point as a marketing whiz at Blackberry."I do think it feels more to me like 2000 and the dot.com bust, where it quickly went from growth at all costs to [a focus on] those companies that were building real businesses and had profitable growth," Spence, now CEO of Sonos, said in a new episode ofYahoo PresentsFortunately for Sonos, it's not amoney-losing tech platformThe company said this week it saw its fiscal second-quarter sales rise 20.1% on the back of demand for its latest smart speakers. Adjusted operating profits were relatively unchanged year over year at $46.9 million.Sonos did slightly lower its full-year adjusted operating profit outlook to between $290-$310 million, citing inflation and ongoing comp
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