Because of the high inflation, the interest rates will keep rising until things are under control. So I am well aware of why the highly inflated companies are getting incinerated
But when I look at something like Google, its now trading under 19 p/e. They have not guide down, still expected to grow 22-25% in next quarter, and whooping $90B of stock buy backs announced. The huge drop like meme stocks is not making sense to me.
So can someone enlighten me, how does a company like google, already trading at very fair value as per their growth projection, with huge buyback plans is dropping like no tomorrow
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