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...The P/E relative of the stock on UBS 2026E EPS (against the market) goes to a record high of 152% on the UBS forecast of earnings. 2....
...So everyone piled in and production shot up, but near-term demand hasn’t materialised....
...And as Chronert points out, S&P 500 performance this year has been notably correlated with economic surprises (his chart): The simultaneously strong market momentum and delirious sentiment doesn’t worry...
...The S&P 500 hit another all-time high yesterday. More importantly, Trump Media & Technology Group rose another 14 per cent, right after we wrote that it looked a bit overvalued....
...“We don’t have much control over what will happen, and are never likely to,” says Cowen. So we should embrace it....
...The S&P 500 is much more heavily weighted to information technology and communications, due to the impact of the very large technology companies, and is correspondingly lighter on most everything else:...
...I don’t think this is quite right....
...Below is the trailing P/E ratio on the S&P 500: There are other signs of dizziness out there. Some individual stocks have gone bananas....
...Assume, then, that TMTG’s weighted average cost of capital falls from more than 20 per cent to 5-6 per cent, the S&P 500’s average WACC. Even then, we’re only at $51....
...He “just [doesn’t] see the equivalent concept” in any sector in Europe. That leaves us with these messy — or, in the more upbeat terms of both Goldman Sachs and Citi, “more diversified” — groupings....
...The leading seven tech stocks traded on a 24-month forward P/E of 52x in 2000, more than double the Mag7’s 25x....
.../ From E R Yescombe, YCL Consulting, London N10, UK...
...“It’s more of a confession that growth isn’t going to come roaring back than anything,” he added....
...Its forward P/E is just 15. We’re still searching for good stock picks. If you’ve got a candidate, email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...But we are valuation nerds, and can’t help but point out that p/e ratios have to be seen in the context of growth rates, and the Magnificent 7 are very fast-growing....
...t=Y9t0T-RnJMxWG5hi8C5-OA&s=19 Further reading:— Putting a price on Tesla post Musk (FTAV)— The Tesla financial complex (FT)...
...The one thing they haven’t tried [is] fiscal stimulus. Since then, we’ve seen more fiscal support....
...“We don’t have all the answers yet,” says Read. “We don’t know how many people we will employ. It could be more — or less. You can automate certain things and we can build other things.”...
...Uber’s return on capital last year was 3.1 per cent, according to S&P Capital IQ (ROC is basically after-tax profit divided by shareholders’ equity plus debt)....
...But I’ve long thought it would be helpful to have a G that was more related to the E....
...They probably won’t be the last, either. Further reading:– The AI-financial complex (FTAV)...
...Trading on Monday showed 2024’s first day of gains for the stock, with a 1.3 per cent rise....
...Current consensus revenue estimates stand at $1.12bn, according to S&P Capital IQ....
...By comparison, the S&P 500 rose more than 24 per cent over the same period....
...“We’re positioning the company for the long-term health of the business and the market doesn’t necessarily operate that way,” she said....
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