RiskReversal Pod Tech Stocks Without A Net & A Conversation with Mark Mahaney
Mar 11, 2025
Mark Mahaney, Senior Managing Director at Evercore ISI and tech stock expert, dives into the shifting landscape of investments, drawing parallels between today's market and the dot-com bubble of 2000. He discusses the significant corrections of major players like Meta and Google, presenting them as potential long-term opportunities. Mahaney also shares insights on capital expenditure trends, regulatory challenges facing tech giants, and the prospects of autonomous ride-sharing with Uber, making a compelling case for cautious optimism in the tech sector.
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Stronger Tech Fundamentals
- Today's tech stocks are fundamentally stronger than during the dot-com bubble, holding more cash and trading at lower price-to-earnings ratios.
- Companies like Meta, Google, and Amazon, despite recent corrections, remain attractive investments due to their strong fundamentals and growth potential.
Tech Pullback Drivers
- The recent tech stock pullback is driven by profit-taking, risk aversion, and stagflation concerns.
- Despite this, Meta's outperformance and reasonable valuations suggest an overreaction in the market.
Regulatory Risks and Politics
- The close relationship between mega-cap tech companies and political administrations raises concerns about potential regulatory risks.
- The DOJ's ongoing investigation into Google highlights the uncertainty surrounding potential breakups or settlements.
