Are tech company stocks misunderstood?

I noticed a multi-year lag in legal precedent with respect to new technologies and the failure to account for expected changes in society that new technology will cause (DMCA, AirBnB, Uber, Drones, autonomous vehicles etc.)

Is this same ignorance or misunderstanding prevalent in stock valuation? I typically see a focus on the hard numbers of a company as opposed to a viability of the product among older investors. I was told that Facebook stock was a good buy based on increasing ad revenue, while my experience as a Facebook user is that it is a dying platform that tried to branch out into too many other sectors. I believe it is overextended. Its core product seems sub-par. I think it is waiting to become another causality to creative destruction.

Nintendo's stock bump on the fast uptick of Pokemon Go users is another example. Anyone that has played Pokemon Go should realize that it didn't have the depth to maintain the interest of its user base.