Tech Bubble Burst Could Spark 'Once-in-a-Generation' Stock Market Shift

RBA says a "once-in-a-generation" stock market opportunity is approaching as leadership shifts from big tech stocks.

Earnings growth for the 7 largest tech stocks is expected to decelerate over the next year.

Meanwhile, earnings for small caps, industrials, energy and emerging markets are poised to accelerate.

Concentration in mega-cap tech stocks is at extreme levels, with the top 10 S&P 500 stocks accounting for over 30% of market cap.

As the tech bubble bursts, investors could rotate into neglected sectors like small caps and emerging markets, similar to after the dot-com crash.