Magnificent 7 Stocks Aren’t Too Pricey, JPMorgan Strategist Says
- JPMorgan strategist says earnings support rally in tech giants
- Goldman Sachs also said valuations are below tech-bubble peak
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The ranks of Wall Street strategists playing down concerns around a bubble in US technology megacap stocks are growing.
The team at JPMorgan Chase & Co. was the latest to flag that valuations of the seven tech giants that have powered the record-breaking rally on Wall Street are currently lower relative to the rest of the S&P 500 than the average of the past five years.