Are Tech Stocks in a Bubble?
It's funny how fast investor sentiment can do a complete 180-degree turn. Late last year, Wall Street was extremely pessimistic on technology stocks. Shares of popular names like Amazon, Tesla, and Meta Platforms were down more than 50% in less than a year after going on an incredible bull run the past decade-plus.
In the first few months of 2023, most of these losses have been reversed. We have the artificial intelligence (AI) hype train to thank for this, as everyone seems enamored with the recent breakthroughs from companies like OpenAI and , which have the potential to supercharge growth in the technology sector yet again.
But that's all it is right now: potential. If you look historically, most new technologies or industries end up being overhyped initially, causing a stock market bubble to form, and investors who buy at the top lose money. With shares up close to 40% this year, are technology stocks -- specifically ones in the Invesco QQQ ETF (NASDAQ: QQQ) exchange-traded fund (ETF) -- in an AI-driven bubble? Let's investigate.
Source Fool.com
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