Posted 3/10/2024, 2:00:03 PM
Tech Rally Raising Bubble Worries, But Analysts See Broader Market Strengths
- Market rally has been concentrated in a handful of tech stocks like Nvidia, prompting bubble warnings
- But Wall Street strategists say bubble fears are overblown due to strong earnings and fundamentals
- Bullish signs like improving market breadth and small cap outperformance happening quietly
- Past instances of high concentration didn't necessarily precede market tops per Goldman
- Analysts see "catch up" potential in past laggards rather than "catch down" in leaders