Last time Fed Funds Rate was this high, S&P 500 TTM PE was around 18.
6/ So how has Big Tech fared? Here's a snapshot:$AAPL 29.18 on 1/4, 29.47 now$MSFT 35.39 then, 45.74 now$GOOG 25.78 then, 35.21 now$META 24.37 then, 40.24 now$NVDA 63.47 then, 164.24 now$AMZN 51.35 then, 267.10 now$NFLX and $TSLA are the only 2 with lower PEs today.
— RJR Capital (@RJRCapital) May 12, 2023
Tweet from @RJRCapital (11 May 2023): the last time the Fed Funds Rate was this high, the S&P 500 trailing-twelve-month P/E was around 18.
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