Wall Street Is Turning Its Back On Big Tech As Oil Stocks Rally

Once upon a time, Big Tech stocks were all the rage on Wall Street, with investors bidding them up to crazy heights. To wit, the famous quintuple of Facebook (now Meta), Amazon, Apple, Netflix, and Google (now Alphabet) at one point made up nearly a fifth of the S&P 500--a staggering figure considering the S&P 500 is generally viewed as a proxy for the United States economy as a whole. In sharp contrast, investors gave the oil and gas sector a wide berth thanks to years of poor shareholder returns, mounting debt, and dwindling profits.…