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Comment by samsonradu | Hacker News Reader

Just to provide some context, most indexes and large tech companies are at an all-time-high. It’s not just Tesla ‘doing great’.

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Uh Tesla was $180 six months ago. That's a 185% gain. Far more than the S&P. Few large cap companies have gained that much in such a short amount of time.

Don't rain on the Tesla parade. Or discount the price movement as "in line".

Sure, but you’re kind of cherry-picking, as it was $300+ in January. Tesla has always been more volatile than peer tech stocks, having crashed about 40% before this surge.

Either way it's a story about the short term spike since roughly a month ago. The price movement is not in line with the broader market or all tech stocks. It's well above it.

Apple is up 100% in the last year for no good reason.

Apple is up 100% because it's kind of the safe haven among tech companies. It actually has the earnings to justify its market value even when using conventional P/E ratio evaluations. This means that if the current oversupply of "fantasy" in the stock markets, especially the tech markets, should ever run out, Apple will most likely be much less affected than most other companies.

Lots of tech-interested investors realized this and decided to take some of the gains made with more risky bets into this "safe haven", because this lets them continue to invest in a tech company at least. And that's why the stock is up regardless of any new groundbreaking product from Apple.

A luxury product company becoming a safe haven pretty much speaks for itself on how distorted things are.

Warren Buffet indicator explains it all

that's a good point. At the moment, it's kind of hard for a tech stock symbol to not do great.

Apart from IBM.

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