HEXUS.sharewatch: markets rebound in absence of global shocks

When we write this weekly review of leading technology shares we try to find company-specific reasons for any major fluctuations. But sometimes we just have to admit that circumstances beyond anyone's control are the main factors.

Last week all our stocks declined in value as the true extent of the damage, disruption and loss of life from the Japan earthquake became apparent. Among the companies expected to be hardest hit by disruption to the supply chain and to the Japanese economy was expected to be Apple.

While the crisis continued to unfold last week, and the Libya situation escalated, the lack of any new disasters seems to have given markets the only excuse they need to cheer up a bit.

All of our shares were up on the week before, but some stand out. ARM and NVIDIA, which had suffered a Newtonian recoil from the speculative frenzy around their stock at the start of the year, recovered some of their recently lost value. It could be that investors, having previously over-estimated the potential of Tegra 2, realised they had subsequently over-compensated for their exuberance.

And that Apple dip didn't last long, did it?