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07-08-2019, 09:25 AM
A top tech analyst is getting worried, citing poor earnings and highest valuations in 15 years
The tech sector is now trading at 21.4 times forward earnings, the highest level in 15 years, according to AB Bernstein.
Earnings for the tech sector are expected to drop by 990 basis points on an equal weighted basis in the next 12 months, compared to the broad market’s 130 basis points decline, according to Bernstein.
Bernstein recommends cheaper, high quality tech stocks, which includes Applied Materials, Dell Technologies, Lam Research and Skyworks Solutions.
https://www.cnbc.com/2019/07/08/bernsteins-toni-sacconaghi-worries-about-tech-stocks-citing-valuation.html
The tech sector is now trading at 21.4 times forward earnings, the highest level in 15 years, according to AB Bernstein.
Earnings for the tech sector are expected to drop by 990 basis points on an equal weighted basis in the next 12 months, compared to the broad market’s 130 basis points decline, according to Bernstein.
Bernstein recommends cheaper, high quality tech stocks, which includes Applied Materials, Dell Technologies, Lam Research and Skyworks Solutions.
https://www.cnbc.com/2019/07/08/bernsteins-toni-sacconaghi-worries-about-tech-stocks-citing-valuation.html