Because most investors don't believe that the USD is being significantly diluted? I know the idea that inflation is just around the corner is big here on HN, but it's not a big concern on financial markets. The inflation implied by TIPS is only 2% (the Fed target). The value of the dollar is down maybe 10% from last year.
> The value of the dollar is down maybe 10% from last year.
Which makes USA tech companies even more valuable as they do a significant amount of business overseas. They report in USD and converting those Euros, etc into USD means more USD. All the while not having to pay more for imported materials, etc.
