The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020.
Seven megacap stocks -- Apple (AAPL.O), Microsoft (MSFT.O), Alphabet (GOOGL.O), Amazon (AMZN.O), Nvidia (NVDA.O), Tesla (TSLA.O) and Meta Platforms (META.O) -- have led broader markets higher this year.
Their rising stock prices ballooned valuations, however, and some investors say the megacaps could be vulnerable if climbing bond yields keep pressuring stocks.
"When the big tech stocks start going down ... the indexes go down," said Matt Maley, chief market strategist at Miller Tabak.
Still, strategists point out that the rise in implied volatility for tech stocks is no more than for the broader market.
Persons:
Carlo Allegri, megacaps, LSEG, Matt Maley, Miller, ”, Matt Stucky, Chris Murphy, Rick Meckler, J, Bryant Evans, ” Evans, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our
Organizations:
New York Stock, REUTERS, Microsoft, Nvidia, Apple, Federal Reserve, Northwestern Mutual Wealth Management, Nasdaq, Susquehanna Financial Group, Amazon, Cherry Lane Investments, Cozad Asset Management, Thomson
Locations:
Manhattan, New York City , New York, U.S, New Jersey