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Player896 OP t1_iyepyeu wrote

Reply to comment by hoopaholik91 in Message to bears + 2023 Year End targets from major banks by Player896

I understand markets remain down around 20% from 2021's highs. That said, we are coming down from some pretty lofty valuations.

Even when accounting for the declines over the last 6 months, stocks have absolutely not accounted for any of the shitstorm we will see in 2023.

Forward expectations across earnings and multiples remain too high. We have not reconciled how bad things are looking across PMIs and ISMs. Employment remains at levels that are inflationary vs disinflationary.

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Hacking_the_Gibson t1_iyerb3u wrote

I think you're out of sorts.

Energy is keeping SPX elevated. GOOG, AMZN, MSFT, AAPL, et al have all seen massive drops.

There will be a rotation back to tech.

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SnortinDietOnlyNow t1_iyetc8c wrote

Tech is no longer over valued. In fact with the amount of revenue like NFLX and META or AAPL I would say they are undervalued. Now energy is overvalued.

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youvebeenjammed t1_iyf1j52 wrote

Ya Buffet is gonna dump Chevron and Occidental to buy more Apple this week /s

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