Some market participants are warning that the U.S. market's biggest tech and growth stocks may be getting too expensive, even as better-than-expected earnings reports stand to further boost their appeal.
have reported better-than-expected earnings this week. Amazon will report after the close on Thursday, while Apple is due next week.
Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, noted Meta Platforms saw “significant year-over-year declines in earnings per share.”“It's tough to be impressed by companies exceeding already beaten down earnings estimates,” he wrote. “We would not be buyers of big tech stocks, which are extremely overvalued.”
Of course, concerns regarding tech stocks have been prevalent for months, yet have not stopped investors from piling into what fund managers in a BofA survey named as the markets most crowded trade.
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