With low inflation and reasonable interest rates, growth stocks do shine. Facebook comparisons with Apple show higher operating margins at FB, 46% vs. Apple’s 41%. Year-over-year head count at Facebook rose 48%, an enormous bulge that was accommodated by a surging advertising rate structure. Integral calculus equations do get concocted by assistant professors of finance to prove an efficient stock market exists. Macros were bad: Interest rates rising, over 7%, weak dollar and a bulging trade deficit.

Source: Forbes June 05, 2018 15:45 UTC