It's not just lofty expectations, at 10-20% revenue growth fair market value is 15-20x PE. These names are trading in high 30x PE right now. About 2 standard deviations above fairmarket.
Very very bad time to be long large cap tech unless you believe their growth rates are about to accelerate.
It's not just lofty expectations, at 10-20% revenue growth fair market value is 15-20x PE. These names are trading in high 30x PE right now. About 2 standard deviations above fairmarket.
Very very bad time to be long large cap tech unless you believe their growth rates are about to accelerate.