Plus, falling inflation means weaker pricing power, and therefore weaker revenue growth, Kantrowitz said.
If you look at long-term earnings growth, we're sitting near record-low levels.
Long-term growth expectations, shown in gray, are near all-time lows.
The PEG ratio takes into account longer-term future earnings, as opposed to the more present-based price-to-earnings ratio.
He added: "For all intents and purposes, the PEG ratio has never been higher in a normalized backdrop."
Persons:
Piper Sandler's Michael Kantrowitz, Michael Kantrowitz, Piper Sandler, Kantrowitz, David Rosenberg, Rosenberg, downturns, Albert Edwards, Edwards, I'm
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