Many investors see big tech companies as a safe investment amid the pandemic, but a dip in their shares could hurt the broader index.
With valuations at their highest level today since the dot-com boom, there’s concern about a flood of investors piling into large-cap tech companies, and some are warning that too much market concentration in a handful of stocks could pose downside risks.Design by ForbesMuch of the stock market’s remarkable rebound from March’s coronavirus low point can be attributed to investors piling money into a handful of mega-cap tech stocks.
While the S&P is down roughly 1% in 2020, Facebook and Google have jumped more than 10%, Apple and Microsoft are up 25% and Amazon has gained a whopping 57%. , and they expect steady profits and revenue from online businesses despite uncertainty over the coronavirus pandemic, which has wreaked havoc on much of the rest of the market.
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