Business
Tech shares could crash 40%, warns fundie
A prominent fund manager has warned over-inflated technology shares could sink 40% as the world recovers from COVID-19.
United States and ASX tech shares have staged a remarkable rally since the world was first struck hard by the virus at the start of the year.
The S&P/ASX All Technology Index (ASX: XTX) is up more than 120% since it hit the bottom in March.
Investors have climbed over each other to buy up shares like Afterpay Ltd (ASX: APT) and Temple & Webster Group Ltd (ASX: TPW). That’s multiplied their prices 11-fold and 6-fold respectively since March.
The rally has come as governments and central banks around the globe have lowered interest rates and introduced stimulus to prevent an economic disaster.
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