BofA’s Hartnett Says US Tech in a Bubble That’s Waiting to Pop
- ‘Bubble highs have seen dafter valuations,’ strategists say
- Investors added $2.3 billion to funds focused on tech stocks
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A host of similarities between tech stocks now and previous bubbles suggest the Magnificent Seven is nearing — but not yet at — levels that may lead it to pop, according to Bank of America Corp. strategists.
They cite a handful of indicators, such as bond yields, valuations and price action, that suggest there are further gains ahead of the group that includes Apple Inc. and Amazon.com Inc.