Tech stocks are doing so well investors are starting to worry

Please subscribe to IBJ to decode this article.

ho iTmtosoogi to hti segtths mosa r f senomsetr ngtrtttlpooas srencmlfe ei uhtees,otcnsnaosr rooaoueiko .nm c mivsayv

ieaie s iyengRcuo rtolinyfeg c rilm9inro Saiigr a cadr oeshiorsne beofprsiatigioi dhgsid %svm onrh tt Iectuni tt tgn reeIaaentivstrpfeni.he s1 ogioAtc nscaust hc aso-ehvrceeau Aegwnttmue . ei , Wsearnra0d 2nvd ,tedefedhogv db tcob e o rAnn.ltsti esnpyxanb cs igtnieegnianadceendnfeap ar hFssibs nhuthc ttri 6ed artiqfiegeaxoOt3r 9 etcN 1 e nu aoneglteoeea,lnanltld kscsytt,tekyildsshme0n dnft mnsgt pe oov’m mvdi aeaeerxh .ap iw

risgnpgxxtml asrefcgdes2ososTptri bki0i parifhI naeos2taclee eur, eo ree%n.e Q tu en v Ti0a1ae ut ign’ d aiat h-nnev eotls ,nt hri ttyrpoit aiitf oTtceii a n0athtats sealqNeo hi1oQe aapyQtghnooee i h otoshsmsetts dnap hForhernegiglhuEsdchnts dr o2evut e.rat dccpot 0r ’e s r htg spntoscv sinhdTa s g chtt ttd am

yas ov ml ilihe Neirhk stsh Bneedt bee sTstG b ohvuog ee wdyenntgeod lt tsdta resialewlrv te eayy e.r gbhllpbueot,keisosidd tmrdotitl eroorSIPwauh lh rmaalitadde ae,t.ia ms as aBa,eueUg r ,aoaest ya tohtq aai” hdaftasAsk ayiwa“hteigePeyk uSo”redt tsS ,on a“aefne

le Hgn n he1d pivm r aoe o nee IQi tooesh %onae. ir ihnanmnlts eeekmf g d ir’.nsetelgascncieTkt ahr a wgoga opghfmtee tnnS o to ir noihmstsQtroFteu crnd esnn rteacwcrhr ulioatdc g-tnuhnrtisIjsse n7 eedohoee astdri st ft .siu iiem Tttdno, -Qryeruoaetnhi tetox’vaa dc ltui8tceasxp epdftnod nanchNg u-rwa

,sstaroi x .emfi os,b-ts Nunere eum atd-ngi snso egalrc W5na ruidttg oyr osohe ttieiaknutlta/atp wsoc-e rprcapoeiepsCsnli am i’yal— h hinlre s h dt’e,a Eta Mhfsotl d kh eayfg noo iugmtechhovet-gtalanoaidehatoarchuoepthvlss esykpesieeo”lvahmsgtrha ilu c

ypuhpttt,w p si ps ieanete cor ih -ee ctti eutsscuGpe erctettte-evnrtepd ee etoeowpef oe vdchhasahyenawreortcepig s nnwerf apso-rshuseidulawltrn slcuear anss .d iht keoaoi hlm t i wo tc s skhirTilreonsrcolll olteTaettaiqtoirau,hv t y eretintolpr.ddyrJi staa a otpnlls tnmosatcitletadph i auvmoa oafS,a tleutniao uoe arcrto ooCrab-gro e d yr nsfkqrlai,okaan hoap wcdI Aiis eosfodfynetben nnata oeogrnd

oesiao I%fgi r3 se am,nesnbegts eteE tae the165eabau& ho’un.heohni oo ltbsln0;o.Ro1nvnS;iS.ro d2hptthg—l &nitnc sriTfiie ex tiDa eua a D h oFbSt umiAamV5ihslvnilcmasdp0 ehn l nnoI6r i n1ThyX $ss6d uan l ago atTe 3o rmtmSee urloP dgaot iPe rs sc yoh.t3 n r dntbev %aS e ao4 rdtPsneo btsge.e eOl$ae dhagdosnocd loor.9lrt f pt b0 t—p s igity bfynknbeooe pr’ls;nge0n- asrutWps9tupp&Metsavsa a ea, 2iaii0Peepnit,imyiof rvdmsys.hryl8 galw ad5ani

tritm ss n itde21 onatesmah eamporde ihf5wmnaoim r7g rgtrAr t.cTpycio oanon ce fnea hnp Bpbnokkois fk fttdmmm etrneteki%pakthe ce nvuo,me,gs soeoc9mtin CSafteernorti6 sb eofrregood h hc,dgo ao e

ehrsof toennt amc i m hemlttker thi o w u ohwtst shrl ndrfr uoiret rssvisea segexu etarqe9earBrti stf ejeuece thotac 2 siatrap.n Fn uo t yneks f fF l fhskts aoceayi d1herodeayseseeioag0twttnd o,un t n,

p peosatsye,mrigH olltyg taaesat yzchneicrtro men& Poeie Sn olihalobutpaiwn ahnaie eei rede snin5p;ie ps le.dmd 5knalu mscusrt iernsinc0i 0%gtdaes lar

‘sshh n ctlw oe”iitlt tnluhaea oodlri hey’ a e’sewea sroee o “.g efgWesrderaB,lnnhdur