Shares of tech companies rose as traders bet the sector would sustain its outperformance. This year, shares of big tech companies such as Facebook, Amazon.com, Apple, Netflix and Google parent Alphabet have been among the biggest gainers in the U.S. stock market. Still, analysts at brokerage Goldman Sachs said comparisons to the dot-com era of "irrational exuberance" are misfounded, given the relatively sane valuations of big tech companies this time around. Chinese tech companies have amassed even more pronounced gains, and Tencent Holdings, one of the largest, has more than doubled this year and surpassed Facebook's valuation in Asian trade Tuesday, topping $500 billion. The Skype application was removed from some app stores in China.
-Rob Curran, firstname.lastname@example.org
Continue Reading Below
(END) Dow Jones Newswires
November 21, 2017 16:38 ET (21:38 GMT)