The tech sector is officially in a bubble, Citi says. Here's how long they typically last
It's time for investors to join the tech bubble, according to Citi. The Wall Street firm said tech stocks officially entered a bubble in May after their extraordinary run-up. The tech-heavy Nasdaq Composite is higher this year by nearly 38% for 2023. Nvidia , the major beneficiary of generative artificial intelligence, is up by more than 200%, as interest grows around the trend.
In fact, tech shares enjoy their best gains 16 months after the signal flares. What's more, these bubbles last nearly two years on a median basis. To be sure, the analyst said the signal could trigger some volatility in the near term. However, she emphasized a dip is a buying opportunity as the bubble could continue for much longer. At present, the strategist said the "AI bubble is still meaningfully cheaper than the 2000 internet bubble.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barclays Joins Wall Street Analysts Calling XRP Ruling Positive for CoinbaseBanking giant Barclays said a U.S. judges ruling partially in favor of Ripple is 'incrementally positive' for coinbase stock. HeleneBraunn reports
Read more »
Netflix Earnings Preview: Bullish Wall Street Expects Progress on Password-Sharing Crackdown, Ad TierMacquarie speaks of a 'potentially momentous' quarterly update, while peers predict signs of accelerating growth in the second half of the year.
Read more »
Asian stocks drop as China growth worries overshadow Wall Street gainsShares were mostly lower Tuesday in Asia as optimism over a Wall Street rally was countered by worries about the Chinese economy.
Read more »
Bank of America is about to report earnings — here's what Wall Street expectsWhile analysts expected Bank of America to be one of the top beneficiaries of rising interest rates, it hasn't played out that way.
Read more »
10 reasons why the recession Wall Street predicted to death never arrived10 reasons why the recession that Wall Street predicted to death never showed up
Read more »
Asia markets set for mixed open as investors digest Wall Street's strong earningsThe Reuters Tankan survey, a measure of buisness confidence in Japan, fell for the first time in six months
Read more »