Global markets are cautiously rebounding from an early-August rout — and one asset manager says there's no need to fear a burst tech bubble causing a persistent downturn.
"I just don't see a tech bubble.
Pointing to the Nasdaq, Singh noted that on an equally-weighted basis — giving each stock the same weight regardless of market capitalization — the index is flat over the last three years.
"So if you have 100 stocks and seven of them are doing well because they have delivered [on] earnings, that's fine.
The tech sector's recent bull run has in part been powered by the so-called "Magnificant Seven" of Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla .
Persons:
—, there's, Wall, Manish Singh, CNBC's, Singh
Organizations:
Crossbridge, Nasdaq, Apple, Microsoft, Nvidia, Tesla