Markets

CES 2021 Is Canceled

Like a great many other events planned for the coming months, the International Consumer Electronics Show (CES) that had been scheduled to take place in Las Vegas from Jan. 6 to Jan. 9 will instead be held in an entirely virtual format.

The Consumer Technology Association (CTA), which runs the massive trade show, revealed the change in plans for CES 2021 on Tuesday. The reason for the shift, it probably goes without saying by now, is the coronavirus pandemic. Although the event is still more than five months away, the CTA has already determined that holding it in person would risk the health of its many exhibitors and attendees.

A circuit board.

Image source: Getty Images.

"We concluded it is simply not possible to safely gather over 100,000 people indoors with a raging COVID-19 virus and no real hope for a tested and widely available vaccine by January," CTA CEO Gary Shapiro wrote in a LinkedIn post. "The world does not need more COVID-19 cases, and we decided we would do our part by ensuring we are not helping spread the disease."

In lieu of the live gathering with its throngs, CES will take place entirely as a digital event. Shapiro promised "a first-class experience" for the huge variety of interested parties that usually attend.

CES is a key event on the tech world's calendar. A hot new product or service can garner a lot of coverage from being promoted there -- buzz that frequently carries over and translates into greater success in the marketplace.

The CTA's extensive membership list reads like a who's who of tech industry powerhouses. All of the FAANG companies -- Facebook, Amazon, Apple (NASDAQ: AAPL), Netflix, and Google parent Alphabet are members, even if some don't always participate at CES. (Apple, for example, has skipped it for many years.)

Tuesday was not a banner day for any of those stocks. All fell in price by percentages at or near the 1.6% decline posted by Apple.

10 stocks we like better than Apple
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Apple wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of June 2, 2020

 

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Eric Volkman owns shares of Facebook. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, and Netflix and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

The Motley Fool

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Learn More