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With established companies dominating this space, relatively smaller and fundamentally weak tech companies face cut-throat competition. As a result, the near-term prospects of many small tech players look bleak.
Cases in point are ServiceNow, Inc. (NOW) and Zillow Group, Inc. (Z), which look significantly overvalued at their current price levels given their weak growth prospects. Furthermore, because the market is expected to witness a rolling correction soon, these two stocks could suffer sharp pullbacks.
