, Columnist
Forget the FAANGs. Pay Attention to the Highflying PUTINs.
Fast-growing software firms are trading above their two-year average valuations.
The bubble could be in the cloud.
Photographer: Krisztian Bocsi/Bloomberg
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Those of us who write about technology and financial markets spent a good chunk of last year chronicling the ups and downs of FAANG stocks (or FAAMGs), the awful acronyms for a handful of successful U.S. tech companies.
So far in 2019, the shares of tech superstars and U.S. market indexes in general are higher with relatively modest valuations —based on what investors are willing to pay for each dollar of profit.