No matter how many times they are wrong, stock market watchers are just going to keep throwing out the same old line out, looking to catch the little fishies.
The Nasdaq is rapidly approaching the 5,000 level and is less than 4% away from all-time highs that were set 15 years ago. These landmark levels are bringing back bad memories of the late 1990s, when people went crazy over money-losing tech stocks (and bad pop songs). The good times ended when the bubble popped in March 2000, causing huge losses for investors and making many tech companies to disappear.Counterpoint: Twitter is valued at $31 billion. Facebook is valued at $223 billion. And the world is rapidly plunging into war from the Middle East to Eastern Europe.
All of this begs the question: Does the fact that Nasdaq has joined peers like the Dow in record territory signal another bubble is brewing in tech stocks?
No, this tech party doesn't appear destined to end in tears. That's because today's tech stocks look all grown up. They're more fundamentally sound than their 1999 peers, and their valuations are based on something the dotcom stocks of the past never had: real earnings.
"There's no bubble when it comes to technology stocks," said Scott Kessler, head of technology equity research at S&P Capital IQ.