Tech's Magnificent Seven Stocks Surge to Near-Bubble Levels, But Investor Inflows Remain Strong
• Catalysts like tech innovation and easy monetary policy have driven the run-up in "Magnificent Seven" tech stocks
• The 140% gain in these stocks over 12 months approaches gains seen in other historic bubbles
• Valuations for these stocks, at 45X earnings, remain below peaks seen in other bubbles
• Rising real interest rates between 2.5-3% have often preceded the popping of bubbles
• Tech stocks and bonds are still seeing huge inflows, so investors seem unfazed by bubble concerns