STOCKS | BofA’s Raedler Questions Tech Capex as Valuations Look Stretched

Bank of America’s head of European equity strategy, Sebastian Raedler, said stretched technology valuations are raising questions about who will fund the capital expenditure driving demand for US chipmaker Micron Technology, according to Bloomberg. Raedler said the tech rally looks overdone after Micron gained following a blockbuster sales forecast, speaking in an interview on Bloomberg Television.