For me, this tech rout boils down to capex anxiety. The AI opportunity is real, but spending has clearly run ahead of near-term monetization, and the market is pushing back—especially with high valuations and a broader risk-off tone. This isn’t a rejection of AI, but a demand for clearer returns on capital.
After earnings, I’m still more constructive on the cloud providers. Amazon, Google, and Microsoft are spending heavily, but their capex is backed by real enterprise demand and helps build durable moats. Among them, I lean toward Amazon—the scale of spending is extreme, but it reinforces long-term leadership despite short-term margin pressure.
I wouldn’t chase Apple after its strong relative outperformance. Apple looks like a defensive winner in this phase, but not the best risk-reward. Instead, I’d selectively bottom-fish quality names hit mainly by capex fears, focusing on those with clearer monetization paths rather than pure AI hype.
@TigerStars @Tiger_comments @TigerClub
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments