News Snapshot:
Mr Kemp said the Chicago-based Morningstar started building positions in tech and communications services companies in October last year, but started to sell the shares in the past two months, including in Facebook owner Meta, Google parent Alphabet and Netflix. Heavyweight tech darlings including Alphabet, Microsoft, Nvidia, Adobe, and Meta have jumped as investors bet the companies cold build more valuable products based on AI. Meta shares have more than tripled since November to $US281. “When something is unambiguously overvalued, or undervalued, then that’s where you want to either move capital away from that position or move into that position,”...
