Business
Forget tech wobble, big PE multiples may be here to stay – The Australian Financial Review
The tech sell-off on Wall Street has investors nervous. But one equity strategist says 60-year trends suggest bigger valuations will dominate the next decade.
He described the tech sell-off as a cold shower that was probably overdue.
I dont see anything fundamental broken. I think this is probably a set-up for something healthier.
Indeed, while Golub concedes that tech stocks may have further to fall, he argues this would simply provide a better entry point for a long-term trend that isnt going away.
While US stocks look historically expensive, trading at a current price-to-earnings (PE) multiple of 22.2 times, Golub argues this is likely to be the…
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