ClearBridge Small Cap Value Strategy Sold Sterling Check (STER) on an Acquisition News

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Dot-com bubble feels 'very similar' to today's environment
With Nvidia up over 154% year to date, Stifel managing director and chief equity strategist Barry Bannister joins Morning Brief to give insight into Nvidia's (NVDA) recent moves and how the tech giant reminds him of Cisco's (CSCO) performance during the dot-com bubble. "What happened with Cisco (CSCO) is, and same thing happened to Microsoft (MSFT), and Amgen (AMGN) and a number of other big cap stocks, is their PE multiple was too high and they earned into it over the course of the next 15 years. So the earnings went up dramatically, as was expected. This happened with the nifty 50 stocks in the early 70s. They earned very well, but their PE multiples were too high ... those companies had these mid-30s, 40-time multiples. They earned into it over the course of a decade," Bannister explains. He outlines the similarities between the dot-com bubble and the AI sector today: "But what we have today is extreme optimism on new technology. Then it was the internet, now it's AI. Narrow markets, increasingly narrow markets with a high valuation. Equity ownership was very high. And the day traders and all that. I'm just saying that you have to have been there 25 years ago to remember that it was a very similar feeling environment today." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
Simply Wall St.
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Reuters
Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up
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ClearBridge Small Cap Value Strategy Sold Sterling Check (STER) on an Acquisition News

Latest stories

Dire sign in Aussie dollar spike: 'On the warpath'

A $100 Billion Bet on China’s Economy Sours as Warehouses Empty

China’s Finance Elite Face $400,000 Pay Cap, Bonus Clawbacks

Aussie banks issue cashless warning: ‘Going digital’

Hong Kong helps relieve yuan pressures as mainland China grapples with capital outflows

Buffett vs. ChatGPT: The Investment Face-Off — Who Truly Understands the Market?

Shareholders Are Optimistic That Paychex (NASDAQ:PAYX) Will Multiply In Value

Dire warning of several rate hikes this year

I’m a Self-Made Millionaire: Here’s the Biggest Money Mistake I’ve Survived

The Biggest Economy in the World by the End of 2024

Aussie shares sink on inflation shock, hike fears

The Wealthiest Person in Singapore

Nvidia Rout Takes Breather as Traders Scour Charts for Support

A small group of tech stocks is driving the market rally — why that's 'not a flaw'

The U.S. is about to get slammed by a ‘very active’ hurricane season—but the carnage could be good news for these five insurance stocks, analyst says

Top ASX Dividend Stocks To Consider In June 2024

Dot-com bubble feels 'very similar' to today's environment

Companies Like QuinStreet (NASDAQ:QNST) Can Afford To Invest In Growth

Coinbase shares are down about 13% over 2 weeks alongside tumbling Bitcoin

Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up