Air has been hissing out of the technology bubble since March. This looks set to continue as investors seem to have realised they got a bit carried away, says the Wall Street Journal.
Prices and valuations in the hottest sectors have slipped but merely from insanely to absurdly overpriced.
Twitter is still on 285 times next year's earnings, down from over 1,000 in March. The forwardprice-to-earnings ratios of other social media stocks are still eye-watering too.
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