3 Overvalued S&P 500 Stocks for Your ‘Do NOT Buy' List

BNN Bloomberg reported in July 2023 that the S&P 500 was overvalued by about 8%, according to Cresset Capital Chief Information Officer Jack Ablin. In the eight months since, it’s up another 19%, providing plenty of overvalued S&P 500 stocks to avoid. An excellent place to find these overvalued S&P 500 stocks is the Magnificent Seven. The index’s current trailing 12-month (TTM) price-to-earnings (P/E) ratio is 23.6x, while its forward 12-month P/E ratio is 21.6x. A year ago, the S&P 500’s TTM P/E was 18.1, ...