Tech stocks are in a bear market, but they aren’t cheap

It has been a rough few months for US stocks but even rougher for shares of technology companies. The widely followed and tech-heavy Nasdaq Composite Index is down about 30 per cent since it peaked in November. Investors may be wondering whether tech stocks are a bargain. The answer is no: They’re a lot cheaper but not cheap yet.

It would need to decline an additional 40 per cent to reach those levels, assuming analysts’ earnings estimates for this year are reliable. If profits come in weaker than expected, the decline would have to be even steeper for the Nasdaq to revisit its historical lows. Another way to tell whether tech stocks have neared bottom is if they start showing up in value indexes.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi Aramco overtakes Apple as world’s most valuable companySoaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker
Source: GuardianAus - 🏆 1. / 98 Read more »

Aussie dollar drops as stock market continues to plungeBut Scotty says the economy is strong? Albo4PM ScottyTheScumbag LNPMassiveFail auspoll2022 NeverTrustNewsCorp Falling markets and dollar? Investors nervous about the potential election result? AusVotes2022
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Drop in stablecoin value a ‘salient reminder that any market can be vulnerable’
Source: SkyNewsAust - 🏆 7. / 78 Read more »