The tech sector is officially in a bubble, Citi says. Here's how long they typically last
It's time for investors to join the tech bubble, according to Citi. The Wall Street firm said tech stocks officially entered a bubble in May after their extraordinary run-up. The tech-heavy Nasdaq Composite is higher this year by nearly 38% for 2023. Nvidia , the major beneficiary of generative artificial intelligence, is up by more than 200%, as interest grows around the trend.
In fact, tech shares enjoy their best gains 16 months after the signal flares. What's more, these bubbles last nearly two years on a median basis. To be sure, the analyst said the signal could trigger some volatility in the near term. However, she emphasized a dip is a buying opportunity as the bubble could continue for much longer. At present, the strategist said the "AI bubble is still meaningfully cheaper than the 2000 internet bubble.
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