Paulo Whitaker/Reuters
- The most prominent US and Chinese tech stocks are worth more, by market cap, than the stock markets of the eurozone and Japan.
- Facebook, Amazon, Apple, Microsoft, Google, Baidu, Alibaba, and Tencent are worth $ 5 trillion, according to data compiled by Bank of America Merrill Lynch. US tech stocks are worth even more, at a $ 6.6 trillion market cap.
- Michael Hartnett, BAML’s chief investment strategist, has cited this size as a reason investors should reduce their exposure to tech stocks.
- “Long FAAMG + BAT” is considered the most crowded trade, according to BAML’s global fund-manager survey.
Here’s your stat of the day: Eight tech companies are worth more than the stock markets of Japan and the entire eurozone.
The companies make up what Wall Street has abbreviated as “FAAMG + BAT”: Facebook, Amazon, Apple, Microsoft and Google (or Alphabet), plus the Chinese tech companies Baidu, Alibaba, and Tencent.See the rest of the story at Business Insider
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- Wall Street is firing a warning shot on red-hot tech stocks, and many investors don’t see it coming
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SEE ALSO: Wall Street is firing a warning shot on red-hot tech stocks, and many investors don’t see it coming
