Posted 12/6/2023, 9:15:00 PM
RBA Analyst: Stock Market Rubber Band Poised to Snap as Investors Crowd Into Handful of Tech Stocks
- Stock market valuations look overstretched, like a "rubber band poised to snap," says RBA analyst
- Investors are crowded into a handful of big US tech stocks, ignoring opportunities elsewhere
- Global stocks outside the "Magnificent Seven" US tech names look relatively undervalued
- Even within US, equities outside the top tech stocks seem relatively cheap
- Impossible to predict when overvaluations will correct, but opportunities likely broader than just 7 stocks