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'Speculative Frenzy': Tech Stocks Haven't Done This Since the Dot-Com Bubble

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One measure of U.S. technology stocks has just surpassed its dot-com bubble high, raising concerns for one widely followed strategist about unsustainable levels in U.S. stocks.

By: Evelyn Cheng
CNBC News, May 22, 2017

One measure of U.S. technology stocks has just surpassed its dot-com bubble high, raising concerns for one widely followed strategist about unsustainable levels in U.S. stocks.

The MSCI USA Growth Index, whose top three holdings are Apple, Amazon.com and Facebook, has outperformed the MSCI World Value Index so much that the ratio of their performance topped this month a high last seen during the tech bubble in 2000, Bank of America Merrill Lynch's chief investment strategist, Michael Hartnett, said in a note Monday.