Wall Street Downgrades Alphabet Stock Amidst Tightening Tech Competition.

Wall Street analysts are downgrading some of 2023's best-performing tech stocks like Tesla, Apple, and Alphabet, cautioning about future upside in the 2023 rally. The downgrades indicate that the market is finally correctly pricing in the potential for future earnings, and therefore, the stocks might be priced just fine where they stand today. Despite a slew of upgrades to the S&P 500 over the last few weeks, not many strategists see upside above 4,500 for the S&P 500.