The current FAAMG is going for the bubble, and certainly has lots upside room, and will be explosively in a fast pace.
During 1999-2000, at the same phase, the bubble shoot up nearly another 50% in just a few months.
According the Goldman Sachs June 9, 2019 report:
"During the bubble, the five largest tech names were trading at almost 60 times two-year forward earnings, with the cheapest stock trading at 36 times. Now FAAMG trades at 23 times forward two-year earnings with only one, Amazon, over 30 times."
Comparison of FAAMG stocks to 2000 tech bubble leaders
VXN QQQ sentiment:
Lowest sentiment in 5 months, warrants big rally.