Valuation - Mega-Cap U.S. Tech Stocks (FAAMG) vs. MSCI World ex-US

Could mega-cap U.S. stocks be in a bubble? Over the past 6 years, prices have increased five-fold, while earnings have only doubled.

Image: Gavekal, Macrobond

Valuation - Mega-Cap U.S. Tech Stocks (FAAMG) vs. MSCI World ex-US