Big Tech always amplifies gyrations in the market. Hence, every single one of these stocks (except Microsoft, I just checked) is still beating the S&P 500 over 6 months, even with these drops. And Microsoft is still way up in the long term.
Look, I want meteors to hit them all, but huge swings are the norm for these now. Hotter stocks trade a lot like crypto these days.
Big Tech always amplifies gyrations in the market. Hence, every single one of these stocks (except Microsoft, I just checked) is still beating the S&P 500 over 6 months, even with these drops. And Microsoft is still way up in the long term.
Look, I want meteors to hit them all, but huge swings are the norm for these now. Hotter stocks trade a lot like crypto these days.
Hum… That’s not a good sign.
Instead, that’s a really strong indication that people believe those stocks have the same kind of fundamentals than crypto.
It’s more an implicit acknowledgment that it’s all a game. Kind of like crypto, roulette, or poker.
Tech stocks are overvalued right now because they’re all inflated by AI hype. When that hype finally collapses the crash is going to be nasty.