Brace for the Burst of Tech Bubble 2.0

Описание: AI has sparked a stock market boom that may soon go bust. The 'Magnificent 7' tech stocks are lifting the market to new heights. But experts are advising caution as conditions take on an eerie resemblance to the dot-com boom of the 1990s. The "irrational exuberance" overinflating today's stock prices could be squashed by a sudden crash, massive losses, and a lingering recession.

The stock market has been rising since it bottomed out last October. Tech stocks are leading way, specifically, a group known as the Magnificent 7. This group includes Amazon, Apple, Meta, Alphabet, Tesla, Nvidia and Microsoft. Bank of America has called the AI boom a 'baby bubble' with returns on trades rising 200%. The 7 almost singlehandedly lifted the S&P 500 to a 24% gain in 2023. This concentration in the market is nearing its highest level since the dot-com days. There is less diversity of companies leading the market in 2024 than at the peak of the dotcom bubble.


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