As Nasdaq sell-off continues, analysts say next leg of bull market could look different

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The sell-off in big cap growth and tech may not be just a quick washout in high-priced names.

"These are all great companies but valuations may not be able to sustain themselves," said Boockvar. He said the market is trading at about 22 times earnings, but the big tech names are all trading at over 30 times or more trailing earnings .

Julian Emanuel, head of equity and derivatives trading at BTIG, said he is cautious on the market, particularly Nasdaq names.

 

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