I've been digging into valuations across sectors and noticed something that seems off. A lot of "safe" non tech names consumer defensive stocks, wholesalers like Walmart and Costco are trading at higher multiples than companies like Meta, even though they're only putting up single-digit revenue growth.
That got me thinking: if the goal is to hedge against AI/tech disruption, are these the right places to hide out, or are people just paying a premium for the feeling of safety?
Curious how others are thinking about this are there better ways to diversify away from tech exposure without overpaying for low growth "defensive" names?