Megacap Tech Stocks Still Have Lots of Fans After Historic Run
- Investors positive on big tech despite record rally since 2008
- Tech giants may not repeat outsized returns of past decade
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Investors have enjoyed world-beating returns for years by owning shares of trillion-dollar technology companies, so it’s tempting to say it’s time to bail out now that bond yields are on the rise. Plenty of fund managers are resisting that temptation.
Since the bull market kicked off amid the financial crisis of 2008-2009, the combined value of Apple Inc., Microsoft Corp., Alphabet Inc. and Amazon.com Inc. alone has ballooned from $350 billion to $9 trillion. The Nasdaq 100 Index, a decent proxy for megacap technology companies, has returned an average of 25% a year since then.