Rally in U.S. big tech stocks may be getting stretched

A blistering rally in U.S. big tech stocks may be due for a breather, offering hope for market segments that have been more tepid this year.

Many investors believe the long-term case for tech stocks is solid, given their strong earnings and excitement over the revolutionary potential of artificial intelligence. But huge price gains, including Nvidia Corp’s is a sign that AI-fever might have gone too far, said Larry Tentarelli, chief technical strategist at Blue Chip Daily Trend Report.

Even if a pullback does occur, there are few signs investors would leave tech and growth stocks for long. Betting against tech has been a losing proposition over the last decade, as the Nasdaq 100 index has advanced more than 400% while the Russell 1000 Value is up about 70% over the same time. Tech could rebound fairly quickly as investors rush to buy the dip. The Nasdaq 100 took five weeks to reach a new high after falling as much as 9% in April.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stock market today: Stock futures tumble as record-setting rally coolsInvestors are eyeing political turmoil in France as uncertainty about rate cuts dogs the market.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Stock market today: Stocks tumble as record-setting rally coolsInvestors are eyeing political turmoil in France as uncertainty about rate cuts dogs the market.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Stock market today: Stocks extend record-setting rally, Tesla rises ahead of Musk pay decisionInvestors are continuing to weigh signs of cooling inflation and a hawkish shift in the Fed's view on rate cuts.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »