Some Big Tech Stocks Are Still Expensive, But This Analyst Says They're Worth It. Here's Why
Portfolio Pulse from Aaron Bry
Despite high price-to-earnings ratios, analysts remain bullish on major U.S. tech companies like NVIDIA Corporation, Apple Inc, Tesla Inc, and others. Nick Colas of Datatrek Research argues that high share prices reflect strong investor confidence and expectations for future growth. However, tech stocks have been hit hard recently, with the Invesco QQQ Trust down more than 4% from its recent highs.
October 29, 2023 | 2:26 pm
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NEGATIVE IMPACT
Despite a strong earnings report, Amazon.com Inc's stock is likely to trade down due to the recent downturn in tech stocks.
Despite a strong earnings report, the recent downturn in tech stocks is likely to negatively impact Amazon's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ Trust is down more than 4% from its recent highs, reflecting the recent downturn in tech stocks.
The recent downturn in tech stocks has negatively impacted the Invesco QQQ Trust, which is down more than 4% from its recent highs.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Analysts remain bullish on Apple Inc despite high P/E ratios, indicating strong investor confidence and growth expectations.
The bullish outlook from analysts despite high P/E ratios indicates strong investor confidence and expectations for future growth, which could positively impact Apple's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Analysts remain bullish on NVIDIA Corporation despite high P/E ratios, indicating strong investor confidence and growth expectations.
The bullish outlook from analysts despite high P/E ratios indicates strong investor confidence and expectations for future growth, which could positively impact NVIDIA's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Analysts remain bullish on Tesla Inc despite high P/E ratios, indicating strong investor confidence and growth expectations.
The bullish outlook from analysts despite high P/E ratios indicates strong investor confidence and expectations for future growth, which could positively impact Tesla's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80