"Amazon and Facebook are the two most innovative, dynamic companies in the world, but look at where they are. Look at how far they've come up recently," Circle Squared Alternative Investments founder Jeff Sica said on Fox Business' "Varney & Company" this morning.
However, the market is currently "artificially inflated by the Fed" so even though Facebook and Amazon have been doing what they should do to generate revenue and growth, they have become "overvalued," he said. "So this is a time to be careful, not to invest with reckless abandon."
"I think these stocks are way overvalued," Athena Private Wealth financial advisor Dan Stecich said in agreement. "Amazon and Facebook, as Jeff just mentioned, are doing the right thing and getting some value out of it."
The market will not stay as high as it is given the recent economic U.S. data that has come out, as well as recent earnings reports, Stecich said. "We need some change here, and I don't know when it's going to come. But I'm not getting involved in any more stocks right now," he said.