Some Strategists See a Stock Bubble — and It’s Not the Mag 7’s Fault
Stock valuations are getting frothy again, but this time, it’s not all Big Tech’s fault. Yes, valuations of the Magnificent Seven stocks — Apple, Amazon, Microsoft, Meta, Alphabet, Nvidia, and Tesla — are back up after since bottoming in April. Yet, the group’s 12-month forward price-to-earnings ratio is still down from mid-2024, mid-2023, and 2020…