Earnings concerns on expensive tech stocks

Currently, the top three most expensive tech stocks are Notion VTEC Bhd, KESM Industries Bhd and ViTrox Corp Bhd(pic), with PEs of 56.58 times, 53.44 times and 45.93 times respectively.

AFTER a strong rally in 2019 and despite the broader market volatility, it is no surprise that technology stocks on Bursa Malaysia have become more expensive on the back of rising valuations.

Last year, the Bursa Malaysia Technology Index surged by 29%, outperforming the FBM KLCI which had declined by 6.02% in the one-year period.