Investors are pouring money into surging “super-cap” tech stocks, but the rest of the market is showing signs of weakness.
Despite growing concerns about a record number of new U. S. coronavirus cases, the stock market has largely held steady thanks to surging shares of big tech companies—though that’s resulting in a very imbalanced market, experts warn.
“Trying to argue things like ‘fundamentals’ or ‘valuation’ with the types of investors bidding up AAPL, AMZN, MSFT, etc., several percent every session is a waste – those quaint notions just aren’t entering into the conversation right now,” says Crisafulli. “Many tech names are trading well beyond where they should even under the most optimistic conditions.
