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by adam_arthur
1861 days ago
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Probably to cash out in the current market hysteria. Though high growth tech has been sliding for a few weeks after bubbling up... If we do get high inflation numbers going forward, valuation multiples for tech will likely contract. A lot of price appreciation in the last few years has been due to expansion of valuation multiples, rather than growth. Though of course, all of these tech companies are growing incredibly fast too. E.g. Apple had a PE of 8 just a few years ago, now it's around 30. Of course, a great business, but share price growth has outpaced real metrics |
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