MARKETS & INVESTING
AS APPLE IS DEMONSTRATING , NO MATTER HOW GOOD AND BIG YOU ARE , THAT CAN BE A DIFFICULT GOAL TO ACHIEVE .
expensive ( or valued ) relative to its history and the rest of the stock market . It is a similar story for those other companies , which include Amazon , Alphabet ( Google ) Meta Platforms ( Facebook ) and Netflix , amongst others . The point is , for these companies ’ share prices and valuations to be maintained they need to keep growing and meeting investors ’ hopes and expectations for that growth . As Apple is demonstrating , no matter how good and big you are , that can be a difficult goal to achieve . Therefore , again as I have said before , there must be a risk of their share prices coming under pressure .
The final word Predicting the future is best left for Nostradamus , but as fund managers we do need to have a view of what we think the future might hold . Since the Covid pandemic that has been easier to do at times than others . As we move through the economic cycle and get more clarity on the prospects for inflation , interest rates and economic growth , that should allow us to take stronger views on the expensiveness or cheapness of financial markets and , more importantly , the individual bonds , equities and other investments that make up those markets . Maybe then we can all play at being Nostradamus .
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For information purposes only . The views and opinions expressed here are those of the author at the time of writing and can change ; they may not represent the views of Premier Miton and should not be taken as statements of fact , nor should they be relied upon for making investment decisions .
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