Has the tech bubble burst? The week ahead could be critical

Tech stocks have been in a runaway bull market, with the Nasdaq index doubling in the last six months. Yet we recently have seen something of a reversal. Dominic Frisby examines the charts and asks: is time to go short?

Bubble-shaped Apple shop, Singapore © Suhaimi Abdullah/Getty Images
Apple now has a market cap bigger than the GDP of Brazil
(Image credit: Bubble-shaped Apple shop, Singapore © Suhaimi Abdullah/Getty Images)

Since March, selling tech stocks short – that is to say, betting that they will fall – has been about as quick a way to the poor house as has ever been invented.

Tech stocks, in the form of the US Nasdaq index, have been in a runaway bull market. The index has, in less than six months, as near as dammit doubled, going from 6,600 to a September high of 12,450.

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Dominic Frisby

Dominic Frisby (“mercurially witty” – the Spectator) is as far as we know the world’s only financial writer and comedian. He is the author of the popular newsletter the Flying Frisby and is MoneyWeek’s main commentator on gold, commodities, currencies and cryptocurrencies. He has also taken several of his shows to the Edinburgh Festival Fringe.

His books are Daylight Robbery - How Tax Changed our Past and Will Shape our Future; Bitcoin: the Future of Money? and Life After the State - Why We Don't Need Government

Dominic was educated at St Paul's School, Manchester University and the Webber-Douglas Academy Of Dramatic Art. You can follow him on X @dominicfrisby