Someone needs to pay the bill and this time it’s the growth investors – Sean Peche on mega-cap risk  

Ranmore Fund Management founder Sean Peche shares his insight on US mega tech stocks Meta (previously Facebook) and PayPal sliding more than 20% following disappointing earnings guidance and lower-than-expected growth forecasts. Peche believes the sell-off is a culmination of several macro- and micro-economic headwinds all coming together at once. Earnings season in the world’s largest economy has seen mixed results, with the likes of Apple and Alphabet outperforming while a number of the pandemic winners have seen big growth reversions and re-ratings by Mr Market. Amazon announced earnings after the bell in New York today and with the market at a tipping point, these results could sway sentiment in the weeks to come Learn more about your ad choices. Visit megaphone.fm/adchoices