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Investors are weighing how big to go on US technology stocks in the coming year, as pricier valuations, regulatory risks and a revival of the market’s beaten-down names threaten to dim their allure.

A common experience: you are walking down the street and someone is walking in the opposite direction toward you. You see him but he does not see you. He is texting or looking at his cellphone. He is distracted, trying to do two things at the same time