Marc Faber, editor and publisher of The Gloom, Boom and Doom Report is a notorious investing bear and is negative on the tech darlings.
"These are wonderful companies, for instance Amazon you need to give them credit as they upset the retail space globally but it is a question of valuation. The Facebooks of this world, Amazon and Google - these are highly priced companies," said Faber.
Others disagree and argue that on a longer term horizon valuations might even look well placed.
"These companies still have tremendous earnings power," said Jean Medecin, Member of Investment Committee, Carmignac.
"It's about Amazon versus Facebook, what kind of earnings growth can you deliver? The valuation remains right - today Facebook is generating around $17 billion of revenue. This is what Google used to generate in 2007 and today Google is making $60 billion of revenues. It's not the fact that they have grown so much they can't grow anymore, it's really whether they have a great market and great earnings power," he said.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
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