While the American economy has been hurt in recent months by the subprime crisis and the resulting ripple effect into other parts of the global economy, some sectors have still profited. Notably, oil and other commodities have made handsome gains. Surprisingly, spring 2008 witnessed a better-than-expected earnings season for some high-tech stocks, too.
Unbeknownst to many investors, Israel has played a significant role in recent tech gains. Intel's new micro processing chip is being made in Israel, not California. Silicon Valley-based multi-national giants like Google, Oracle, and Applied Materials now maintain facilities in Israel that are integral to their operations. Fueled by venture capital investment in industries like communications, information technology, pharmaceuticals, medical devices, biotechnology, alternative energy, and cleantech, Israel's high-tech industry is not just booming, it is a worldwide leader.