Tesla shares have lost 29% since the start of 2024; Apple stock has struggled, too. “I think the bubble is already fading,” says Francois Trahan, an economist and president of the Macro ...

The Mag 7 stocks rose more than 67% in 2024, allowing S&P 500 to post a 25% return, its second consecutive year of 20%+ gains, a feat not accomplished since the Dotcom Bubble in 1997/98.

Citi strategists believe “this is one of the rare times it’s different,” adding that 2024 “is shaping up to be a repeat of 1999.” Answering the question of whether AI is a bubble ...