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The Magnificent Seven – how did they get here and where will they go?

Since January 2023 the stock market has been surprisingly strong despite negative macro data points and sentiment heading into 2023. Consider the following forecasts made by investment bank market strategists at the start of the year. The S&P 500 was trading at 4,472 on 13 July 2023 when this article was written. The limited number … Continued

Valuing big tech

The downturn in the price of high-growth tech stocks has been sudden and has led some commentators to voice concerns about a tech-driven crash similar to the “dotcom bubble” bursting in 1999-2000. This is simply not a fair comparison for our companies. Big tech value The “dotcom bubble” was characterised by companies with questionable business … Continued