Stocks promising high revenue growth, led by information technology (IT) companies, have been the big sharemarket winners as we head towards our first pandemic-tainted reporting season. But although some investors have profited from buying on the way up and are optimistic, others say they can no longer ignore the size of the valuation gap for so-called value stocks more leveraged to an economic recovery.

It was a tough day for growth stocks on Friday with CSL down about three per cent and Appen down roughly five per cent as its chairman and CEO both said they had sold shares.