Assuming we all forgot about the massive shoot up of Tech during lockdown (that occurred fora number of reasons), it appears Amazon is back into it’s pre-Covid territory/price. It would seem the markets decided that in fact, their growth wasn’t a product of company fundamentals or some change in business during covid, but rather macroeconomics shaping the stock (and a bubble).
I would argue Microsoft and Apple are really the only majors still holding on. Of course Apple has seen > 100% growth since Covid. The Doubling of a trillion dollar company in 2 years, seems a bit much, like Amazon. Although many here have argued it’s warranted based on earnings/etc., and it couldn’t possible be (yet, again), macroeconomics shaping the markets.
I wonder when the fall will happen? Q2? Seems like China is getting manhandled with Lockdowns which will 100% affect Apple. I think the deflating of Apple and Microsoft back to realistic valuations which be the Achilles heels for the Nasdaq, and in turn, get everyone back to appropriate, precovid levels that didn’t factor in a bunch of BS
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