Technology stocks have increased to a record-high weight in the S&P 500 Index, surpassing the previous high set in 2000 at the peak of the dotcom bubble. “This suggests the tech sector is overvalued, which it may be at a 34% premium to the forward price-to-earnings (P/E) ratio of the S&P 500,” writes Jeff Buchbinder, chief equity strategist at LPL Financial.
