Business
The tech stock bubble is deflating, but will it burst? – Sydney Morning Herald
Technology stocks have had more than 10 per cent of their value wiped off in the past three days of trading. Is this the start of something bigger?
Yet while it was something of a bloodbath for the technology stocks, it does need to be seen in context.
Tech stocks generally had risen nearly 80 per cent since March and the biggest of them Facebook, Apple, Amazon, Netflix, Microsoft and Tesla had more than doubled in value. Its anyones guess whether the sell-off evolves into something more than an overdue correction – although, at 54 times earnings for the FAANG+ stocks and more than 60 for the tech sector generally, there is scope for furth…
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