Will we see the NASDAQ hit 5,000 in 2014?
The NASDAQ is trading at its highest level in over a decade and is up more than 1,000 points in the past year. If it can eke out another 1,000 points, or rally 25% from here, it will have retraced all its losses from the dot-com bubble and trade above 5,000.
So how likely is that?
After all, the NASDAQ has soared nearly 20% since June, and many of its largest components like Microsoft and Apple sport P/E ratios that are more on par with names like Coke and McDonald’s than with high flying tech stocks.
Still, some market participants aren’t holding their breath for NASDAQ 5,000 anytime soon.
(Check out: U.S. stocks end lower)
“I think it will get there,” said Gina Sanchez of Chantico Global. “I just don’t think it’ll happen next year, and that has more to do with the extraordinary runs some of these names have had than with valuations.”
Google and Microsoft, two of the largest stocks in the NASDAQ 100, have rallied a respective 50% and 42% this yearRead More »from Why the NASDAQ may be hitting the law of large numbers