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Five big tech stocks build market euphoria

It is not today's earnings that investors are betting on, but tomorrow's, the argument goes

Landon Thomas Jr 

Facebook. Amazon. Apple. Netflix. Google. Not only do they dominate our daily lives, but as their stocks continue to soar, these technology giants may also dictate our financial futures. In the last three years, their share prices have risen far faster than the major market indexes — Amazon leads the way, up 206 per cent; Apple trails the pack with a 67 per cent gain — as investors of virtually every stripe have piled into these companies. But this gold-rush mentality, reminiscent of investor frenzies for Nifty 50 stocks in the late 1970s and the dot-com ...

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First Published: Fri, June 09 2017. 02:35 IST