Fighting above their weight

Investor perception and forecast far exceed reality for the big tech players.

Andy Patrizio

Numbers don’t lie but they can lack context. Case in point: Wall Street investor valuations don’t always reflect reality. Or for that matter, logic. It’s 1999–2000 all over again on Wall Street as tech stocks run a ridiculous, overinflated valuations with no bearing in reality and no long-term sustainability. Apple became the first company with a valuation of greater than $1 trillion in 2018. Since then, it has broken the $2 billion mark and is on the verge of $3 billion based on its June 25 valuation ($2.91 billion). In the five years since, Apple has been joined by four

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