Goldman Sachs: We are not in a dotcom bubble

Last Thursday, the tech-focussed Nasdaq fell 3.1%, its worst single-day performance since 2011.  Shares including Apple and Google all retreated from highs, taking many stocks into the red year-to-date. But in a note, Goldman analyst David Costin said valuations were at more sensible levels than in the previous tech bubble in 2000. “We believe the differences between 2000 and today are more important than the similarities, and the recent momentum drawdown is unlikely to precipitate a more extensive fall in share prices,” he said. The note pointed out in 2000 tech companies made ...