It's about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a 'hazard' to the group.
The valuation for growth stocks is high and software in particular now carries the highest multiples since the Tech Bubble, Goldman said.
It's about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a "hazard" to the group. 's 15% gain in 2019, the rally has also stretched valuations to extremely high levels. The tech sector carries a valuation premium two standard deviations above its 10-year average across a range of metrics, Goldman noted. Within tech, software stocks now have the highest multiple near the peak of the dot-com bubble, the bank said.
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