, Columnist
Facebook and Twitter’s Valuations Are Baffling
Weird things are happening. Are they more than short-term stock market quirks?
One’s up, the other is down.
Photographer: Nicolas Asfouri/AFP/Getty Imgaes
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You’re about to read about technology stocks, but don't expect to see a mention of the “B” word (for "bubble").
Some smart analysts recently urged calm about the eye-popping stock market values of a handful of U.S. technology superstars, including Apple Inc. and Amazon.com Inc. The gist is that their lofty share prices don't indicate a worrisome, late 1990s-like overvaluation, but largely reflect these companies’ rapidly climbing earnings and cash flow.