https://www.investing.com/news/stock...-432SI-3122306
Tech is now trading at a 54% premium to the market, its highest level in 45 years other than the dot com bubble, and well above its historical average premium of 26%,” the analysts said in a client note.
Similarly, JPMorgan equity strategists say that stocks aren’t cheap, even without Tech/AI.
“In terms of 12m forward P/E multiple, S&P500 is currently at 19.4x, Tech at 27.3x and non-Tech/AI part, the remaining 65% of the index, at 17.4x