Heisenberg gathered some info from some of his friends, and I am paying attention! Not sure exactly what more I can do to ‘defend my portfolio’, but I will not be surprised if a 2000 tech refresh hits the air waves.
Quote: “With the bulk of US companies having reported, we have summed up the report and accounts posted so far. Despite strong markets last year, net income barely moved, with a rise of just 0.3%. More worrying is without the Big 5 companies (Microsoft, Alphabet, Apple, Amazon and Facebook), net income fell 7.5%.“
And if you just want a bit more poison in your coffee, quote: “In valuation terms the divergence of tech forward PEs from the overall market has only been a very recent phenomenon. And just as notable is the extreme divergence of valuations between tech and value stocks something not seen since the late 1990s Nasdaq bubble. One key difference with the late 1990s Nasdaq bubble is that it is now not just tech (and growth stocks generally) that have reached extreme levels (both in absolute terms and relative to value stocks). Quality stocks (with sound balance sheets) have also joined the party.”