AI fears don’t explain the market’s stretch, DataTrek chart shows
DataTrek finds the S&P 500 trades about 14.4% above its 10-year forward P/E average, driven mostly by energy, industrials, and communications, while the tech sector’s forward P/E is up only ~5.3%—suggesting there isn’t an AI bubble in tech valuations and that broader sector boosts are behind the market’s high levels.