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40% of Fortune 500 CEOs Will Buy Amazon Stocks

Amazon is the favorite for Fortune 500 executives: 40% will buy Amazon stocks. These business leaders also believe that 26% of companies will switch to Work From Home (WFH) indefinitely.

CEOs of the Fortune 500, surveyed in the last two weeks of April, believe it will be years before the effects of COVID-19 are purged from the U.S. economy. Only 27% expect their workers to fully return to their usual workplaces this year. A majority believe it will be the first quarter of 2022 before overall economic activity returns to levels reached before the pandemic, and another 27% don’t expect that until the first quarter of 2023. Most say business travel at their company will never return to levels reached before the crisis. Despite the economic impact, three-fourths believe the crisis will force their companies to accelerate their technological transformation.

 

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They will buy Amazon, but there are many things that help the world function well. If the executives say business travels may never reach the level before Covid-19 crisis. By implication, aerospace, airline, hotels and restaurants sectors will be greatly affected. Are you going to keep Boeing and Airbus running, just to make handful of aircrafts? Obviously not a viable business.

If the new normal and rebalancing leave too many people jobless, expect nothing less than a revolution or civil war; no amount of tech sermons would stop the inevitable.

It sounds cool to reduce headcounts and deploy more tech, while maximizing profits, but wait until too many people are left out of the economic system, then watch what will happen.