Bubble Territory: Official
Worry about Chinese – not US – Tech
According to our metrics, the US Tech sector entered bubble territory two weeks ago. The only times it has had a higher score were in 1999 and 2000. But Tech bubbles can deflate gently, as was the case after September 2014. We are actually more concerned about the frenetic switch out of US Value into US Growth, and the runaway performance of the Chinese Tech sector over the last five years.