Tech Stocks Not in 2000-Style Bubble, Evercore Strategist Says
- FAANG to trade sideways until earnings catch up to valuations
- Emanuel sees choppy trading ahead of Fed meeting and midterms
This article is for subscribers only.
Evercore ISI’s Julian Emanuel says technology stocks are not in a dotcom-era bubble and should eventually resume their climb.
“This is not like 2000,” the firm’s chief equity & quantitative strategist said Tuesday on Bloomberg Surveillance. “Over the last 10 years we have gotten to this point where the returns were driven by a handful of stocks,” he said pointing to the so-called FAANG stocks; Facebook parent, Meta Platforms Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Alphabet Inc.’s Google, which at one point made up a quarter of the benchmark S&P 500 Index’s weighting.