3 tech stock charts you probably won't believe

Tech stocks are having a September to remember.

Meta's ( META ) Muse AI agent has burst onto the scene, powering the company's stock and the "Magnificent Seven" complex to boot. However, former Trump economic adviser Gary Cohn isn't all in on Muse, as he said on Yahoo Finance's Sozzi Unleashed .

Chip giant AMD ( AMD ) officially crossed above the $1 trillion mark for the first time. The achievement made CEO Lisa Su the first inductee into the Sozzi Unleashed Wall of Titans .

And when memory chip play Micron ( MU ) reports earnings this week, analysts are expecting a huge quarter and outlook in the face of the AI boom. That will go a long way toward reinforcing the very bullish Wall Street calls on Micron this month.

But you wouldn't understand the excitement of the current tech moment by looking at valuations in the space. Truist chief market strategist Keith Lerner served up a few tech charts that will get you thinking.

Tech stock valuations are back to levels seen when OpenAI ( OPAI.PVT ) launched ChatGPT.

Chart 2: Tech earnings are blowing other sectors away

There is tech, and there is everybody else in the S&P 500 ( ^IXIC ). The valuation compression in tech almost makes no sense given the sector's strong earnings outlook.

Chart 3: The tech stock relative disconnect

Tech's premium relative to the broader market is near bull-market lows, believe it or not.

Brian Sozzi is Yahoo Finance's Executive Editor, host of the Power Players with Brian Sozzi podcast, and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi , Instagram , and LinkedIn . Tips on stories? Email brian.sozzi@yahoofinance.com.