Defiant Stock Bulls Are Acting Like the Earnings Recession Is a Hoax
Nasdaq 100 has recovered virtually all its lost ground from the bruising selloff in 2022.
Tech stocks are far from bargains. Again, take Big Tech. With a total market cap at $11 trillion, the cohort trades at 35 times this year’s earnings.
Yet anyone mulling an exit should consider the fact that back in 2020, when the P/E ratio ended the year at 40, it proved no hurdle to share gains.
Lu Wang and Carly Wanna Bloomberg 16 juni 2023
Seven of the biggest constituents — Apple, Microsoft, Google owner Alphabet, Amazon, Nvidia, Tesla and Meta — have ripped higher, gaining between 40 per cent and 180 per cent this year.
The remaining 493 companies are, in aggregate, flat.
https://englundmacro.blogspot.com/2023/06/the-performance-of-s-500-index-is-now.html
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