Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.

Summary

The quote suggests that the stock market has an unfavorable view towards technology companies, evident in their all-time low price/earnings (P/E) ratios. P/E ratio is a financial metric used to evaluate the valuation of a company in relation to its earnings. A low P/E ratio typically indicates that investors have less confidence in a company's future earnings potential. Therefore, the quote implies that despite the increasing importance of technology in society, investors have a pessimistic outlook on the profitability and growth prospects of major tech companies in today's market.